Business Comment: Watchdogs Mustn't Throw the Baby Out with the Bathwater
Scotland on Sunday › April 19, 2010
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Summary
THE shock revelation from the US on Friday that financial watchdog the Securities and Exchange Commission had lodged fraud charges against Goldman Sachs sent global markets into freefall and prompted concerns at the wider implications of this latest attempt at rooting out alleged wrongdoing.
It was a disappointing end to a week of relative calm during which some markets had touched new highs since the recession began. But investors had more to fear than the immediate shock of finding that Goldman Sachs could be implicated. The charges will be an embarrassment for its former chairman and chief executive Hank Paulson who, as US treasury secretary, introduced several government measures involving billions of dollars aimed at bailing out the country's crippled financial system.See the full content of this document
Extract
Business Comment: Watchdogs Mustn't Throw the Baby Out with the Bathwater
There was wider concern around the world on Friday that this latest move could hint at more bad news lurking in the financial markets just when we thought they were heading for a fre...
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