"Goldman knows, even though it's a mighty company, it survives at the sufferance of the U.S. government," Steve Forbes said as my guest host on the show this morning.
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Steve Forbes
Even at 5am, Forbes doesn't mince words about the vampire squid's latest debacle.
"That crazy economic report they came out with the other day which looked like it was written by the White House press room. A lot of people speculated why in the world Goldman's economists do this. I think some of us suspect that they know who the real boss is," Forbes told me.
"I think it's the whole thing of the SEC trying to make up for lost ground," Forbes said, alluding to the "indulgence" they got from Goldman for the Abacus deal.
"One of the things that I hope will eventually come out of all of this is what is 'insider trading.' I think you make it very clear, if you're a member of aboard, like apparently happened in this case, and you leak information that has not been formally released to the public or to a group of security analysts or the like, that's a violation of the law. But, if you're a hedge fund or an investor and you're searching out talking to experts trying to find out what's happening, like you're looking at who is parking a car at certain companies to see if there's a merger maybe going on, that kind of thing is fair game."
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