{"id":2620,"date":"2010-07-19T19:59:48","date_gmt":"2010-07-20T03:59:48","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=2620"},"modified":"2010-07-19T20:11:05","modified_gmt":"2010-07-20T04:11:05","slug":"ribstein-tells-it-like-it-is","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/ribstein-tells-it-like-it-is\/","title":{"rendered":"Ribstein gets to the heart of the Goldman settlement"},"content":{"rendered":"<p>Prof. Larry Ribstein on <a href=\"http:\/\/truthonthemarket.com\/2010\/07\/18\/the-sec%E2%80%99s-strike-suit\/\">the Goldman &#8216;Abacus&#8217; settlement<\/a>.\u00a0 He predicts that the end result will be confusion about what big banks must disclose:<\/p>\n<blockquote><p><em>[W]hat lesson should Wall Street take away from this case? What,  exactly, does a bank in Goldman\u2019s position have to disclose to a  customer? The identity of another customer on the other side, as the  complaint suggests? Only when that customer is somebody like Paulson.  What does that mean? Only if the customer has selected the portfolio?  What does that mean? Many deals are put together with buyers in mind.  Suppose ACA (the collateral manager) assembles the portfolio here with  Paulson in mind, and then Paulson says, \u201cthat\u2019s for me. Now I\u2019ll  invest.\u201d Is this more \u201cmaterial\u201d than having Paulson take the  initiative? Suppose they collaborate in putting the portfolio together?<\/em><\/p><\/blockquote>\n<p>Get ready for even more fine print in our ever less readable disclosure regime.<\/p>\n<p>On the other hand, why bother.\u00a0 If the government targets you, no amount of disclosure will save you.<\/p>\n<p>And, <a href=\"http:\/\/www.ritholtz.com\/blog\/2010\/04\/10-things-you-dont-know-gs-case\/\">yes, Barry<\/a>, Larry is a lawyer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prof. Larry Ribstein on the Goldman &#8216;Abacus&#8217; settlement.\u00a0 He predicts that the end result will be confusion about what big banks must disclose: [W]hat lesson should Wall Street take away from this case? What, exactly, does a bank in Goldman\u2019s position have to disclose to a customer? The identity of another customer on the other [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21,14],"tags":[],"class_list":["post-2620","post","type-post","status-publish","format-standard","hentry","category-politics","category-scandal"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=2620"}],"version-history":[{"count":5,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2620\/revisions"}],"predecessor-version":[{"id":2622,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/2620\/revisions\/2622"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=2620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=2620"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=2620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}