This has been a recurring pattern on Wall St. for years. Firms like Goldman and JP Morgan break various laws all the time, but then they lobby to have the laws changed retroactively (yes, this law will change – and the talk now is to make it look like they are weighing some issues other than the massive kickback in cash they’ll get to change this law). This is obviously a complete breakdown in the concept of the rule of law. BusinessInsider shamefully carries the headline that insiders will have to wait for an IPO – instead of covering the fact that there’s been a miscarriage of justice. Any wonder Americans are becoming poorer? The average American can’t make up laws and rules to suit their personal net worth interests, but they are forced to compete with banks like Goldman that do.
This is BusinessInsider’s spin: “So if the SEC changes the rule it might be a further disincentive for tech companies to go public.” Huh? What about the fact that Goldman Sachs BROKE THE LAW!!!!
Furthermore, let me add that complete disregard for the rule of law is at the heart of the issue as to why the U.S. dollar is selling off. There are simply no rules against counterfeiting, insider trading, and market manipulation at every level of the banking system including the Fed and the Treasury . . . So why would anyone want to own the instrument of this deceit? Why would anyone want to be the last guy into a burning building, the last lottery ticket holder in a drawing for an anvil dropped on your head? It is so unbelievably ludicrous to think that the U.S. dollar is going to survive Goldman and JPM’s rape and pillage of the banking system that anyone left holding dollars deserves to get wiped out in my opinion.
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