SEC sues Goldman Sachs for fraud. GS has already come under fire for "betting against" financial products it was marketing, a practice that apparently helped it prosper from the real estate bubble but come out relatively unscathed. The SEC now says that one such product was designed specifically so that a Goldman business partner, Paulson & Company, could take a short position on it. Investors were apparently not advised of this fact. Goldman's stock was off more than 10% in the half hour following the announcement. [more inside]
posted by grobstein
on Apr 16, 2010 -
For years, Viacom continuously and secretly uploaded its content to YouTube, even while publicly complaining about its presence there. […] Viacom’s efforts to disguise its promotional use of YouTube worked so well that even its own employees could not keep track of everything it was posting or leaving up on the site. As a result, on countless occasions Viacom demanded the removal of clips that it had uploaded to YouTube, only to return later to sheepishly ask for their reinstatement. In fact, some of the very clips that Viacom is suing us over were actually uploaded by Viacom itself.