http://online.wsj.com/article/SB10001424052748704866204575224630179814538.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsForth
One would think politics at this point would be the last thing you would think about for reasons of wanting to terminate your pension fund's association with Goldman or any of the other large banks for that matter.
I can't get past the point of FRAUD myself.
In the weeks since Goldman Sachs Group Inc. was sued over alleged fraud, the firm has engaged in a charm offensive to keep customers from defecting. But it hasn't always worked.
Goldman sent out emails to clients on the day of the allegations, April 16, giving the firm's defense. Since then, Goldman executives have crossed the country to meet personally with clients. One Goldman insider said colleagues crammed roughly two months of client visits into two weeks.
Last week, the $9 billion Oklahoma Teachers Retirement System voted to put Goldman's asset-management unit "on alert" for possible termination pending a review of the allegations as "an organizational concern."
Other clients say they are concerned as well. The Securities and Exchange Commission accused the firm of failing to disclose the role of a short seller in constructing a pool of mortgage-related assets sold to investors. Goldman has denied wrongdoing, saying its disclosures were adequate. A related criminal investigation disclosed last Friday and congressional hearings on April 27 focusing on the charges have intensified scrutiny of the firm.
The action by Oklahoma, which was earlier reported by Reuters, shows how state and local governments can be sensitive to such issues for political reasons
