Word that the SEC vote to sue Goldman Sachs was 3-2, right along party lines (first reported by Bloomberg), came out a bit after 2pm ET and helped lift Goldman and the overall market.
Volume in GS immediately picked up and price moved from $159 to $162 in a matter of minutes, putting GS into the green for the first time today.
Why is this important? Because it implies that if the SEC cannot get a unanimous vote, culpability may be less than clear.
More on Financials:
- Why Goldman Sachs Stock Is Still a 'Buy': Dick Bove
- Citi Looks 'Good' — But Watch Out for JPMorgan
- Goldman's Tourre Has Taken 'Bit of Time Off'
The Big Financials Today:
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