Bloomberg

Ruling on Goldman Sachs was more psychological than legal

Arkivfoto: Brendan Mcdermid/Reuters/Ritzau Scanpix

The Supreme Court’s decision in the shareholders’ suit against Goldman Sachs over the bank’s transparency was extremely subtle, leaving enough room for both sides to say that they were happy with it. And it did very little, if anything, to make new law.

So what were the justices doing, exactly? The answer is that, in a high-profile case, they were assuring themselves that they had a say in pushing the lower courts toward what they consider common sense...

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