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Sunday, April 25, 2010

Goldman's Wells notice was material to GS counsel--They dumped the stock!

Goldman determined that the Wells notice wasn't material to Goldman shareholders, even though it promptly knocked $13 billion off of the value of the company.

Only Goldman can claim $13 billion wasn't material.

But Goldman insiders? They thought otherwise. They furiously dumped $65 million of their own holdings, while keeping the Wells notice information quiet!

CHICAGO (Reuters) - Five senior executives at Goldman Sachs Group Inc sold company stock after the firm received notice of possible fraud charges, according to a report in the Wall Street Journal.

The stock sales, which totaled $65.4 million, were made by co-general counsel Esta Stecher, vice chairmen Michael Evans and Michael Sherwood, principal accounting officer Sarah Smith and board member John Bryan.


5 comments :

Anonymous said...

Howdy Palmoni. Can I ask you what you think of Jim Sinclair. He claims gold will skyrocket "in a few days".

Palmoni said...

nit in a few days but gold will probably plod higher until about $1300. But that is probably six months away

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