It's Game Over, Goldman Sachs (NYSE:GS) Has Won
I'll make this short. It's game over. The match that ended last Thursday wasn't the final match in the series being played here on U.S. fields. But it might as well have been. The score was so lopsided, it reminded me of those long ago and far away matches where everybody cheered the action, not the players, because the deck was always heavily stacked and the outcomes almost always a foregone conclusion. Those days, long ago, such lopsided matches were all the rage in Rome. And typically, when scores were posted, it would be something like Christians nothing, Lions twenty. Last week, though the score didn't reflect the intensity of the match, the outcome was just as lopsided. It ended up Justice nothing, Goldman Sachs (NYSE:GS ) won (I mean one). You see, there is no fire raging. It's all just smoke on the water. That's because the regulators - and oh yeah, that includes the Justice Department - have been thoroughly captured by the real lions of Wall Street. (Now, there's an idea for a reality T.V. show.) In case you were too busy watching those other matches over in London, here's what just happened. To continue reading, please click here...
I'll make this short.

It's game over.

The match that ended last Thursday wasn't the final match in the series being played here on U.S. fields.

But it might as well have been.

The score was so lopsided, it reminded me of those long ago and far away matches where everybody cheered the action, not the players, because the deck was always heavily stacked and the outcomes almost always a foregone conclusion.

Those days, long ago, such lopsided matches were all the rage in Rome.

And typically, when scores were posted, it would be something like Christians nothing, Lions twenty.

Last week, though the score didn't reflect the intensity of the match, the outcome was just as lopsided.

It ended up Justice nothing, Goldman Sachs (NYSE:GS) won (I mean one).

You see, there is no fire raging. It's all just smoke on the water. That's because the regulators - and oh yeah, that includes the Justice Department - have been thoroughly captured by the real lions of Wall Street. (Now, there's an idea for a reality T.V. show.)

In case you were too busy watching those other matches over in London, here's what just happened.

Goldman Sachs (NYSE:GS) Gets Away On Thursday, the Justice Department ended its fraud probe of Goldman Sachs.

It turns out that, after looking up Goldman's skirt, they found that all that screwing going on up there was just part of the orgy that most Americans were reveling in.

In other words, that whole mortgage screw-all, it was all between consenting adults.

But no one wants to admit that absolute power corrupts absolutely, or that there's any such thing as "regulatory capture."

If you don't know that term, it's what we call it when a regulatory body, charged with acting in the public interest, is instead swept away and dominated by the interests of the sector it's supposed to be regulating.

Because of that, and because the poor banks have been screwed enough for just doing their jobs lending us all money so cheaply, the Justice Department proved once and for all what hacks they are, with their statement on ending their probe.

They said, Sure, our job is prosecuting financial fraud, but "protecting the integrity of our banking system" is and will continue to be the department's "top priority."

The criminal investigation was led by the New York field office of the Federal Bureau of Investigation and included the U.S. Attorney's Office for the Southern District of New York and the Special Inspector General for the Troubled Asset Relief Program.

They're all captured.

It's game over. They've won.

What am I going to write about now?

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About the Author

Shah Gilani is considered one of the world's foremost experts on the credit crisis. He not only called for the implosion of the U.S. financial markets, he also predicted the historic rebound that began in March 2009. Shah is the editor of Capital Wave Forecast and Spin Trader. He also writes Money Map Press’s most talked-about publication, the Wall Street Insights & Indictments e-letter, where he reveals how Wall Street's high-stakes game is really played, and how to win it. Learn more about Shah on our contributors page.

View articles by Shah Gilani


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