SEC goes after short seller of financial stocks after Goldman traders are accused of short selling Bear Sterns – misuse of privileged information?
Ron Zagby
Jul. 16, 2008

The traders at Goldman Sachs understood that Bear Sterns would collapse into bankruptcy. Some in the Street believe they had access to privileged information. SEC decision yesterday to ago after short sellers of financial stocks coincides with the allegations by Alan Schwartz, who headed Bear Stearns Cos. when it collapsed in March that Goldman directly or indirectly, might have put pressure on Bear Stern’s stocks.

Bear Stern cam e bottom up. In 1980s they were pure brokerage firm. In 2006-2007 they were investment bankers dealing with private equity firms and hedge funds.

There are reasons for other investment banks to eliminate their competitor. What is real bothersome is the fact (if ever uncovered) that Goldman staged the downfall of Bear Sterns with insider knowledge and the power of resources within the Government, Federal Reserve and pure and crude power of ‘money’.

For some reason SEC is careful now about the short sellers using insider information in selling financial stocks down. What caused this alarm? Was Goldman’s act the first sign of alarm that easy money can be made in bear market with power of money and insider information?

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