This is the first posting to our new blog. So, hello to our fellow and following bloggers! We look forward to sharing thoughts with you.
Current events:
I heard on NPR this morning that Goldman-Sachs had agreed to a $500 million fine for its role in some of the securities non-disclosures (a/k/a fraud) and interest conflicts which led to the recent market disasters. I receive that news with mixed reaction. I think it's great that Goldman-Sachs will pay some restitution for what it did (does). I am suspicious, of course, that their willingness to settle is designed to prevent deeper inquiries into their broader defalcations. I am disturbed that, reporedly, only about half of that money will go to defrauded investors. Where's the rest going?
I don't know enough about the new banking regulations which were passed by the Senate yesterday, to speak intelligently about them. I laude the O'Bama administration for trying to spearhead some sort of meaningful legislation, but also worry that it's not enough, too little-too late, and may only lead to a more convoluted securities bureaucracy.
Patrick McCrary
A blog sponsored by McCrary & Associates, P.C., a law firm in Atlanta, Georgia
