Announcement

**KrazyHorse** · January 17, 2011, 18:50

Honesty

**Aeson** · January 17, 2011, 21:07

I would be slightly amused if GS failed, but only because KH works there and we could blame it on him. Regardless of how I view GS, I don't doubt that whatever arose to take it's place would be very similar in most respects (likely including employment of KH, but it'd still be funny).

**KrazyHorse** · January 17, 2011, 21:08

Asher already brought down Lehman and Bear

**KrazyHorse** · January 17, 2011, 21:17

Also, I'm a little pissed that you didn't let me **** with the spanish ****** before you dropped that info

**Aeson** · January 17, 2011, 21:21

WaMu (and something else?), not Bear. And yes, it was well worth the loss of some of our financial institutions so that we could giggle at some jokes about his role in the failures. In any case your face must be really red as you've yet to take down a single institution while one of your contemporaries can boast at least 3 (I haven't seen him post about his employment today, so it could be more). HE'S INFINITELY AHEAD OF YOU. One of the many reasons software engineer is so much more highly ranked in best jobs than mathematician no doubt.

**Aeson** · January 17, 2011, 21:26

I believe in evening the field as much as possible so that the bloodflow can be maximized. It's difficult in this case since I know nothing about Z except he seems a reasonably friendly person with a sense of humor about himself, and so probably has a PhD in something other than one of the souless fields which would have prepared him for the coming onslaught.

**Dinner** · January 17, 2011, 23:28

On a more serious note I'm sure GS has a good business case for only wanting to sell shares to foreigners for tax reasons or because they want to expand their business in foreign currency but I hope they get their asses sued off. National origin is a protected class and GS is discriminating against Americans because of their national origin by refusing to sell them that stock simply because of where they were born and where they live. I'd also love to see Federal regulators fine them billions of dollars as punishment for their discrimination but it will never happen because money controls politics in America and there is no lobbying group larger then the banking lobby.

**Dinner** · January 17, 2011, 23:37

Technically, it's not a stock and instead is a investment fund but I used the other term so people would understand what I'm talking about. Please excuse the terminology.

**KrazyHorse** · January 18, 2011, 00:15

National origin is a protected class and GS is discriminating against Americans because of their national origin by refusing to sell them that stock simply because of where they were born and where they live.

National origin and country of residence are two wholly different beasts.

**Dinner** · January 18, 2011, 01:04

I bet, if someone even half heartedly looked, they could find a native born US citizen who signed up for this over subscribed offering and who is now being told he can't take part because he is an American. I'm not a lawyer but it seems like he could get standing as a harmed party and then claim Goldman Sachs is discriminating against him based upon his national origin. Hell, if I had signed up for it before this announcement (which I didn't because Facebook will be another forgotten old trend like Myspace in 2-3 years) I'd try to find a lawyer myself. Most of them will take a case on spec and if they lose you owe nothing but if you win they get part of your award so why not sue? You might get lucky.

Besides this sort of stuff "they're discriminating against me because I'm AN AMERICAN!!!! (outrage)" plays well in the media, punches the jingoist/nationalist card, and the lawyer can build a name for himself. I'd even bet Fox News would take it's tongue out of big business's ass long enough to ride the wave.

**KrazyHorse** · January 18, 2011, 01:11

If the SEC's reach extends to American citizens living abroad then I don't see how they could reasonably claim discrimination. If they ARE living abroad, then whatever discrimination lawsuit was brought would have to be filed in their country of residence, not the US, because AFAIK no US court has claimed extraterritoriality on the relevant anti-discrimination laws (and I doubt their willingness to try).

Basically, you're talking out of your ass, dude.

**KrazyHorse** · January 18, 2011, 01:14

Hell, if I had signed up for it before this announcement (which I didn't because Facebook will be another forgotten old trend like Myspace in 2-3 years)

a) You are not an accredited investor, nor could you become one
b) You likely did not have a previous-existing relationship with GS

therefore, you are already legally disbarred from taking part in this offering on two counts

Leave the lawyering to somebody who has a clue

**KrazyHorse** · January 18, 2011, 01:22

All of you who think you should be allowed to invest in whatever you like, but are prevented from doing so because you aren't rich enough should thank the SEC. Or maybe write your legislators.

**notyoueither** · January 18, 2011, 01:26

Originally posted by Oerdin View Post

I bet, if someone even half heartedly looked, they could find a native born US citizen who signed up for this over subscribed offering and who is now being told he can't take part because he is an American. I'm not a lawyer but it seems like he could get standing as a harmed party and then claim Goldman Sachs is discriminating against him based upon his national origin. Hell, if I had signed up for it before this announcement (which I didn't because Facebook will be another forgotten old trend like Myspace in 2-3 years) I'd try to find a lawyer myself. Most of them will take a case on spec and if they lose you owe nothing but if you win they get part of your award so why not sue? You might get lucky.

Besides this sort of stuff "they're discriminating against me because I'm AN AMERICAN!!!! (outrage)" plays well in the media, punches the jingoist/nationalist card, and the lawyer can build a name for himself. I'd even bet Fox News would take it's tongue out of big business's ass long enough to ride the wave.

How about 'it is illegal for us to sell this **** to people who live in that place because of local laws' as a defence?

**KrazyHorse** · January 18, 2011, 01:32

I'm still sort of amazed that the accredited investor regulation has held up so far without being decried as a bastion of monied privilege...

It may be a confluence of interests of the big brokers and the regulators

The regulators like regulating
The big brokers don't want to deal with the headaches of selling risky securities to the poor and middle class OR deciding to NOT sell risky securities to the poor and middle class. There's no upside for them; they let the regulators look like the bad guys....
The smaller brokers that might not care about losing Joe Schmoe's last 5000 bucks selling him a barrier option don't have enough pull to deregulate

Announcement

Goldman Sachs Says "**** You America!"

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