What a strange world we live in, on yahoo’s site, they wrote that Goldman has settled the US lawsuit for a bit more than 1/2 a billion dollars.
IMHO, the US government is one of the better ones, and yet they extort companies for money. Changing the business rules in the game mid-stream, ignoring the deals made with the better banks during the financial crisis… Acting like they (the banks) are some simple portray of a nemisis (what a joke or the joker) to the world.
Painting pictures of them as the bad guys and the government as the good guys. Casting blame like they (the government) are as clean as clean can be, ignoring their legislation that help make the problems, or perhaps even the primary root of the problems.
I think representatives in government are forgetting poor laws (and lawsuits) make a society poor (and not just in the financial sense).
I think if the government really thought Goldman Sachs did wrong (which I don’t think they did, click here to read my writeup on it), then why settle? I think because they knew that their case was flawed, but either way they still get money from Goldman. Plus, they had nothing to lose really… it would just cost us the tax payers if they lost.
So are such lawsuits a form of additional taxation against profitable successful companies? I ask this because the government didn’t go after the companies that would have had problems with such lawsuits, even though they caused most of the damage… Goldman was a survivor and successful at that, so did they charge Goldman Sachs a success (or survivor) tax disguised in the form of a lawsuit?
Readers, what do you think?