“Better Late Than Never” Dept.

No, I’m not wishing that the stock market goes down.

But at least it’s going down today for a “good” reason: it’s being pulled down by a sharp drop in the price of Goldman Sachs stock, which may now be charged criminally (it is already the subject of civil fraud charges).

While the criminal charges are long overdue, they are certainly welcome — what’s that line about “justice delayed is justice denied?”

Also heartening:

–Judging by the abrupt price drop today, nobody got tipped off early.

Unfortunately, it’s now common practice to witness seemingly inexplicable moves in stocks ahead of significant news. So, maybe some honesty and propriety really is creeping back into the market.

–A drop in Goldman Sachs’ stock — everything else being equal — means that the company has less money to spend on politicians, lobbyists, and defense lawyers.

Not to mention hiring (warping) the nation’s supposed “best and brightest,” who have responded to the siren call of Wall Street riches in record numbers the last, oh, 30 years.

To paraphrase Martha Stewart, “that’s a VERY good thing.”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

Leave a Reply