FT.com / Companies / Banks - SEC probes second Goldman security.
The FT notes that the SEC is now looking at another possible fraud in a Goldman Sachs backed mortgage security.
This along with other allegations is beginning to look like this is no longer an issue of specific failures but of systemic failure.
In which case isn't it time to ask whether this bank is a fit and proper person to hold a banking licence?
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Goldman was not qa bank until the government “encouraged” it to become one during the turmoil of September-October 2008 (at the same time it “encourage” it to take TARP money, which, remember, yielded over 25% to you and me as taxpayers).
Chances are that Goldman would be ecstatic about losing its banking licence and return to be a broker-dealer. Life would be a lot easier.