Why Goldman Sachs Should Hire Matt Taibbi
The most the Securities and Exchange Commission could exact from serial transgressor Goldman Sachs — for what appeared to be blatant fraud that netted the firm billions — was a measly $550 million fine last Summer.
By contrast, in just one day of trading (yesterday), Matt Taibbi’s latest Rolling Stone missive, “The People vs. Goldman Sachs,” knocked more than 5x that — about $2.8 billion(!) — off of Goldman Sachs’ market cap.
And the issue isn’t even on newstands yet (I looked).
Must be one helluva story.
More to come once I’ve read it. . . .
P.S.: Goldman Sachs’ next move?
One could argue that Goldman, ever the shrewd operator, could pay him a couple hundred million annually and still come out ahead, assuming that served to muzzle him.