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To: riversides who wrote (110797)4/19/2010 10:13:48 PM
From: The Vet2 Recommendations  Read Replies (2) | Respond to of 116555
 
As GS actually "manufactured" the financial products they sold why aren't they responsible for loss and damages caused by those products?

If they were manufacturing motor vehicles, household goods or food that caused harm to the purchaser, there are clear consumer protection rules and remedies available under the law against the manufacturer of faulty or defective goods that cause injury or loss to the buyer even if the producer is not aware of that potential when he makes the initial sale. Penalties are, quite rightly, increased if the manufacturer of the faulty product continues to market the product after discovering a problem especially if they fail to warn the buyers or attempt to hide the defect.

So why should financial "products" be treated any differently?



To: riversides who wrote (110797)4/19/2010 11:55:09 PM
From: mishedlo8 Recommendations  Read Replies (2) | Respond to of 116555
 
Senior Goldman Executives Approved the Paulson Deal; Goldman's Spin Dodges the Big Question; "Fabulous Fab" Not Feeling So Fabulous
globaleconomicanalysis.blogspot.com

Kiss goodbye any hope of containing the Goldman Sachs mess at a low level. Senior executives at Goldman Sachs approved the Paulson deal.

Mish