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Reply #17: If they did not warn their clients about the problems they foresaw,
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JDPriestly
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Mon Apr-26-10 12:27 AM
Response to Reply #7 |
17. If they did not warn their clients about the problems they foresaw, |
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they are pigs. They may or may not have violated a law, but surely the public will demand that they disgorge their profits. Surely your broker has a fiduciary duty to warn you and not to bet against your trades. So, to the extent that Goldman advised its clients to buy the sub-prime mortgage securities, it would seem to make sense that they should have advised those same clients that losses were likely.
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