Lots of people are puzzling through the SEC’s fraud allegations against Goldman Sachs, trying to work out how it allegedly committed fraud. The way Paddy Hirsch of Marketplace sees it, it’s a bit like a bookie and gambler teaming up to fix a horse race.
This is a brilliant explanation – make sure to watch the clip.
Source: Marketplace (via YouTube), 19 April 2010 (hat tip: Market Oracle).
