Goldman Pressure on Gold May Be Buying Opportunity
Source: Seeking Alpha, Lawrence Carrel (4/19/10)
"Gold may have been beaten down without good reason. . ."
Meanwhile, The New York Times said Saturday that Wall Street firms tend to settle cases like this one, but Goldman's statement on Friday that it intends to fight may create a big problem. While the refusal to settle was intended to discourage investor lawsuits, this could set Goldman up for a long, messy public battle. The paper added that several European banks that lost money in the deal may try to recoup the money from Goldman.
Then Sunday, the Times added two congressmen want a deeper investigation into taxpayer losses while Britain's prime minister asked his country's securities regulator to investigate Goldman due to losses incurred by the Royal Bank of Scotland. Germany added it may take legal action as well.