"I expect everybody will jump on the bandwagon now, " said Richard Bove, equity analyst at RochdaleSecurities, who thinks that the cost to Goldman of defending lawsuits could be enormously expensive over the next few years.
Unfortunately for former RochdaleSecurities trader David Miller that type of scheme is also illegal, and he now faces prison time after pleading guilty to one count of wire fraud and one count of conspiracy to commit wire fraud and securities fraud.