Goldman Sachs FRAUD Charges Filed By SEC Over Subprime Mortgage Securities

I'm sure this will be received like a pitcher of ice water on the genitalia of the denizens of Wall Street. Wait until foreign governments whose economies have been hobbled by Wall Street practices start bringing their grievances against the United States to the WTO ... that's only a matter of time.



"Financial services Instability in the banking system affects the whole economy. The financial services annex gives governments very wide latitude to take prudential measures, such as those for the protection of investors, depositors and insurance policy holders, and to ensure the integrity and stability of the financial system. The annex also excludes from the agreement services provided when a government is exercising its authority over the financial system, for example central banks’ services. "



http://www.wto.int/english/thewto_e/whatis_e/tif_e/agrm6_e.htm



I believe that nations like Iceland, Portugal, Greece, etc could bring a case to the WTO that the unwillingness of the United States to responsibly regulate its domestic financial services industry put its trade partners at undue risk of loss.
Read the Article at HuffingtonPost