At last we have come to the point. The behaviour outlined in the US Securities and Exchange Commission's devastating complaint against Goldman Sachs neatly encapsulates the most important and damning of the charges that have circulated in the past two years against investment banks in general and Goldman in particular. Sales of structured products backed by subprime securities triggered the credit crisis. The question is whether this was down to deliberate deception, incompetence or bad luck. Now the SEC will attempt to make a charge of deliberate deception stick.
终于有人说到了点子上。美国证交会(SEC)针对高盛(Goldman Sachs)的具有摧毁力的诉状所概述的行为,精辟概括了过去两年来坊间流传的针对投行(尤其是高盛)的最重要、最切中要害的指控。销售由次贷证券支持的结构化产品,引发了信贷危机。问题在于,这应当归因于蓄意欺骗、无能还是霉运?现在,美国证交会将设法证明,有关蓄意欺骗的指控是站得住脚的。