Kasz216 on 17 April 2010
| Qays said: 2) Actually Goldman Sachs isn't being charged with causing the financial meltdown. They are being charged with not warning people about a set of securties that they knew was to go default, because one of their customers was going to benefit by shortselling said securities. These were Sub Prime Morgage loans. Sub Prime Morgage Loans largely happened because of government regulations and insistances to offer deals to the poor so we could raise our home ownership numbers. Goldman Sachs is charged with the type of behavior that, over the course of many years, caused the financial meltdown. Subprime mortgages played a minor role in the meltdown, which was principally caused by the reckless use of derivatives and credit-default swaps on the part of greedy evil corporations. 3) Now EA is the paragon of good game companies. My god how things change. I remember the days where EA was the "Big bad" and everyone was happy Activision was beating them! Yes, things change. EA wised up and decided that it was time to start treating its game designers like artists instead of slaves. Activision still hasn't learned that lesson. |
1) No it isn't. It is being charged with witholding vital information from investors.
The government says Goldman Sachs & Co. sold mortgage investments without telling the buyers that the securities were crafted with input from a client who was betting on them to fail.
http://www.google.com/hostednews/ap/article/ALeqM5ijX619r2ag9b79Pk9JCtMrjEgJoAD9F4J2H00
Read any article and you'll see. The Subprime morgages themselves weren't illegal... and infact the government pushed banks to give them out.
The charges have nothing to do with Subprime morgages other then... those were the assets that were expected to fail.
2) No they haven't. They're the same company they've always been.
