This week, the SEC settled its fraud case against Goldman Sachs for $550 million (Four days' worth of Goldman's 2009 revenues), without the banking giant having to admit legal wrongdoing or fire any senior executives. On the same day, Congress passed a financial reform bill that left Wall Street's too big to fail banks bigger and more powerful than ever. Also gaining power: Tim Geithner, who continued to carry Wall Street's water by letting it be known behind the scenes that he opposes making Elizabeth Warren head of the new Consumer Financial Protection Bureau. Elsewhere, a federal appeals court ruled that uttering a fleeting expletive on TV wasn't obscene. If only an appeals court could do something about the obscenity of the Supreme Court allowing corporations to spend unlimited amounts on political campaigns. Another obscenity in the news: word that more American soldiers killed themselves last month than any month on record.
Sunday Roundup
This week, the SEC settled its fraud case against Goldman Sachs for $550 million (4 days worth of Goldman's 2009 revenues), without the banking giant having to admit legal wrongdoing or fire any senior executives. On the same day, Congress passed a financial reform bill that left Wall Street's too big to fail banks bigger and more powerful than ever. Also gaining power: Tim Geithner, who continued to carry Wall Street's water by letting it be known behind the scenes that he opposes making Elizabeth Warren head of the new Consumer Financial Protection Bureau. Elsewhere, a federal appeals court ruled that uttering a fleeting expletive on TV wasn't obscene. If only an appeals court could do something about the obscenity of the Supreme Court allowing corporations to spend unlimited amounts on political campaigns. Another obscenity in the news: word that more American soldiers killed themselves last month than any month on record.
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