Submitted by Tyler Durden on 08/09/2012 19:53 -0400
Barclays
Credit Suisse
Goldman Sachs
goldman sachs
Standard Chartered
Yesterday, in a brief but informative post, we asked and answered a simple question: "Confused Why So Many Foreign Banks Are Suddenly Being Charged By The US? Here's Why." Naturally, the reference was to such foreign banks as Standard Chartered, Barclays and HSBC (but not UBS and Credit Suisse) which have recently fallen under the US pre-election scapegoating scythe and have found themselves in hot water with US regulators.
Today, on the other hand, we learned courtesy of Goldman's 10-Q, that the US justice department will not press criminal charges against Goldman Sachs. This, despite Senator Carl "Shitty Deal" Levin, in one of the most bombastic kangaroo court spectacles on live TV ever, asking for a criminal investigation after the subcommittee he led spent years looking into Goldman, and in which he said Goldman misled Congress and investors (and according to which billions in fraudulent RMBS misrepresentations are all still only Fabrice Tourre's fault, at that time under 30 years old). And so we pose the same answer, and provide the same anwer, as yesterday, only flipped around: "Confused Why Goldman Will Face No Criminal Charges? Here's Why."
Since we are lazy, we will even reuse the same table. It needs no explanation.
http://www.zerohedge.com/news/confused-why-goldman-will-face-no-criminal-charges-heres-why?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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Thu, 08/09/2012 - 20:02 | 2692607 The Monkey
The Monkey's picture
Time to short sell the market. If you are new to it, it means load up on SPXU and FAZ. You have to deal with a potential 10% drawdown, but no more. The bulls can't take it higher and they know it.
This is easy money to anyone that really knows the markets. The markets have topped out.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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