Between the SEC charges and the congressional panels, the government is finally doing its job going after Goldman Sachs, right? And this last week in April ends with the Justice Department picking up the baton, which puts Goldman under threat of criminal prosecution. Things have suddenly gotten serious.
Two weeks ago on a radio interview, I suggested the SEC investigation will either be a chump charge to pacify the masses or it might potentially be the beginning of the sacrifice of Goldman Sachs for reasons explained below. The Justice Department referral makes the latter more probable.
