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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (49160)	3/30/2002 11:22:55 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 65232

GOLDMAN SACHS GETS ITS PEEPEE WHACKED BY S.E.C. [fine probably much lower than profit from actions] Mar 29 7:19pm ET NEW YORK (Reuters) - Goldman Sachs could be charged with securities fraud relating to information it received about the U.S. Treasury's plan to stop selling 30-year bonds before the news was publicly announced, a source told Reuters on Friday. The U.S. Securities and Exchange Commission will send a notice to the investment bank, saying it plans to recommend filing civil charges about the Treasury leak. According to a source familiar with the situation, once the notice is filed, Goldman will have the opportunity to present its case as to why it shouldn't be charged. The U.S. Treasury's unexpected decision on Oct. 31 to suspend the once-revered 30-year bond spilled out into the market ahead of the embargo time, sending bond prices soaring. One glitch was electronic -- the Treasury Web site advertised the decision 17 minutes before the slated embargo time. But an internal Treasury review found a member of its debt advisory panel and a principal at a New Jersey analysis firm had heard about the news even before the technology-triggered release. And Washington-based consultant Pete Davis, present at an under-wraps press conference, conceded afterward that he had called clients before the end of the embargo, to give them details of the upcoming bond scrapping. The SEC has launched an investigation into the leak. But on Friday no one at the regulatory body would confirm or deny the potential charges against Goldman. And the New York-based investment bank also declined to comment. Goldman shares closed up 1 percent at $90.25 on the New York Stock Exchange on Thursday ahead of the Good Friday holiday.