I have been waiting for more articles, but they seem to have stopped coming. So now it is time to post a suggestion that you read what there are, listed on the right of the link here. It is a pretty strong case against Goldman Sachs totally profit oriented, self-regarding behavior put together by McClatchy news. Not a court case, I think, but one which underscores that without regulation or breaking up Goldman, a financial crisis will recur, brought on by much the same behavior: *corrupted results from the rating agencies which produced misleading reassurances to investors. *lending on subprime mortgages, reselling them, and betting that the housing market would tank along with the mortgages it sold. The final irony is Goldman's current claim attacking McClatchy's series but with no specifics and asserting that it has not profited from the government's bailout of the financial sector.

Good video. One extremely valid question in this whole financial debacle was the lack of risk management. As the two women lamented, they were simply "pushed aside". Yet we seldom see the news reporting on the failure of corporate internal controls. I guess it is simply too easy to perpetually blame the government.

On the issue of "disclosure", I am still trying to develop a position on this. The issue of "disclosure" was especially germane to the Madoff case as several people/corporations realized what was going on but failed to disclose to the public. Since these people/corporations were hired to investigate they may not be obligated to disclose. However, in the case of Goldman, where Goldman was playing both sides of the trade, the failure to disclose could be considered criminal.

What is also interesting in this continued financial discussion is that CNBC is still continuing with its one-sided executive compensation (and banking profits) debate lamenting how regulating executive compensation (or banks) would be unfair. What is missing from this debate is an economic basis for high compensation or high corporate profits. If we had a real competitive working environment/banking system margins would be driven down by competition meaning that executive compensation would be skimpy and profits would be slim. Yet CNBC never seems to consider that viewpoint.

At least one guest host today on CNBC noted that excessive compensation deprives the shareholders of a return on their investment. Well, I suppose that is a start.