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Wednesday, April 7, 2010 as of 11:14 AM ET

The Casone Exchange
  • April 27, 2010 01:58 PM UTC by Cheryl Casone

    Best Guess: Goldman Sachs Edition

    As I write this the Goldman Sachs hearing continues, and I feel that the Senators are missing the point with regards to their line of questioning.  You have Fabrice Tourre there, the only person named in the SEC civil complaint, yet most of the questions are going towards Daniel Sparks, the former head of the mortgages department.  If Sparks testimony is so important, then why didn’t the SEC charge him?  If Tourre is suich a small player in all of this, why was he the only executive at Goldman Sachs named? Doesn’t the line of questions regarding improper conduct mean the most if you direct them at Tourre? 

    No real show today on FBN due to the Goldman Sachs hearing, but here’s Best Guess in the spirit of Goldman:


    DAVID SILVER: The financial regulation that is now in front of Congress is going to cause harm to industries that had nothing to do with the financial meltdown.  Interesting article in the NY Times that shows auto dealers, candy companies and even brewers are against the way the bill is now worded.  There is no way to know all the ramifications from a 1,400 page bill overnight, but it is going to be even tougher to get a car loan or a student loan if this law is passed and the increased cost for trading in the derivatives market is going to be passed directly to consumers.  Imagine if PepsiCo (PEP) has to pay more for some of its commodities, are they going to let that eat into its bottom line? No, they are going to charge more than $99 for a bag of chips or more than $1.50-$2 (depending on where you are in the country) for a 20 ounce bottle of soda. 

    ELIZABETH MACDONALD: Goldman hearings will embolden Congress to be more hawkish on Dodd’s financial  reform bill.

    CHERYL: Senator Richard Shelby will introduce legislation that is less intrusive than Dodd’s bill.  The two work together, and reconcile into something bipartisan.


great post as usual!

May 2, 2010 at 6:58 am

Exercise Balls

Great, I never knew this, thanks.

May 1, 2010 at 1:09 am

R Dodes

Why does Congress think they have the right to tell Corporations how to run their businesses, Congress has run up how much debt??? But they want to tell everyone else how they should act. Our representatives are just as much at fault as any company they claim ruined the economy. They are the ones that passed the laws years ago making it a free for all. There needs to be term limits on Congressman and Senators so they represent the people that voted them in, not the special interest that lines their pockets. R.D.

April 27, 2010 at 7:28 pm

about this blog

  • Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.

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