When Goldman Sachs Does It, It’s Not Illegal

4:28 am in Uncategorized by Eli

Fun legal fact I learned yesterday: Apparently it’s perfectly okay to outright lie to your customers, as long as there’s some possibility that they’re so “sophisticated” that they know you’re lying.

It’s apparently also okay as long as you have a whole bunch of innocent, hardworking hostages employees that would lose their jobs if your company got prosecuted out of existence. Of course, if you sent the individuals responsible to prison, that wouldn’t put everyone else out on the street. I can only assume that Breuer was worried that aggressive prosecution would drive those delicate souls to suicide like it did to Aaron Swartz.

I’d like to think Breuer is out at DOJ because of gross incompetence, but it’s probably more like he’s completed his mission of escorting the fraudsters safely across the statute of limitations threshold and is now ready to collect his reward.

Cross-posted at Multi Medium Read the rest of this entry →