Now a Criminal Probe Against Goldman?

Well, it seems that everyone is going to pile on now that Goldman didn't play along with the White House.

"Given the recent focus on the firm, we are not surprised by the report of an inquiry," said a Goldman spokesman. "We would fully cooperate with any requests for information."

A spokeswoman for the office of the Manhattan U.S. Attorney said she could "neither confirm nor deny" any Goldman investigation. In Washington, a spokeswoman said the Justice Department declined to comment.

Obama sure can go after his enemies with a real Nixonian zeal. I would be willing to bet that this "inquiry" will come to nothing months down the line long after financial reform has been passed. It must suck for Goldman to be made out to be the whipping boy by the Obamanaughts after literally 100s of years of good conduct.

I really hope it knocks off a few more points of Goldman stock it seems to be doing that after hours with the stock trading at $156. I just need to see that all the salvos that the White House can fire against Goldman has been launched before I decide to buy in though.

Also as soon as financial reform passes it is time to seriously look at going long the banks since the "legislation risk" will have certainly been lifted. I would be willing to bet too that all of these troubles that afflict Goldman will magically disappear as well. It's the Chicago way.