Goldman Sachs -- Have They Finally Overreached?

I love The Oil Drum. The stuff they find!

Greece is among the "sick men" in the European Union. Turns out they may have hidden just how sick they really are with the aid and assistance of Goldman Sachs. In turn, it is possible that there will be an audit involving GS by the European Commission.

If there is an audit, and if it results in serious consequences for GS, how can anyone take them seriously in the future? Reading the comments in the baselinescenario link it is pretty clear that some folks can't draw the appropriate distinctions and thus understand why this is an issue. These folks either have a seriously impaired sense of ethics or are just incapable of critical thinking and analysis.