Bill Black, Bethany McLean Discuss No Prosecution of Goldman Sachs

August 12th, 2012
in econ_news, syndication

Econintersect:  Maria Bartiromo interviewed William K. Black, associate professor of law and economics, University of Missouri Kansas City and Bethany McLean on bethany-mclean-tinybill-black-tinyCNBC Friday 10 August 2012.  The topic debated was whether the action of the Justice Department to decline to prosecute Goldman Sachs for fraud for that firm's role in the mortgage crisis was justified.  Black says that the decision was wrong and resulted from lack of investigation, not from lack of criminal activity.  McLean's primary point was that Goldman should not have been prosecuted because no one else was.  She argued against "selective prosecution".

Follow up:

Black responded that prosecution had to start somewhere.  Watch the video and form your own conclusions about who behaved well in this exchange and who scored the most valid points.


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1 comment

  1. MTS67 says :

    Before this, Bethany McLean was writing articles smearing companies in concert with hedgefunds shorting the same companies. She is a criminal in on the plot.

    Check out her emails:

    "From: Marc Cohodes
    Sent: Wednesday, March 21, 2007 9:51 AM
    To: Bethany McLean
    Subject: ffh

    you hear anything there??? the stock is up 45 points since your piece and I dont understand it… "

    "From: Bethany McLean
    Sent: Wednesday, March 21, 2007 11:51:57 AM
    To: Marc Cohodes
    Subject: Re: ffh

    I’m getting the same question from other people. No, I don’t have a clue. I’m worried they’ve gotten the SEC or the Southern District to take them seriously –"

    "From: Bethany McLean
    Sent: Thursday, March 22, 2007 6:12:48 PM
    To: Marc Cohodes
    Subject: Re: ffh

    Sorry to be a little bad-tempered. This FFH story almost killed me, so I hate hearing that it was pointless. Maybe it’ll be a long, slow thing.."



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