Goldman Sachs (GS) employees sold nearly $700 million worth of shares over the last 8 months, according to the FT which tallied up SEC filings.
The article notes that the selling occurred even as Goldman was holding TARP cash and expanding its public float.
Some seem to think this is a big deal, and the story’s getting lots of attention, but we can’t figure out what the big story is. It notes, for example, that there were two big periods of selling — one during the intense period between late September and mid-October 2008, and then some more between December and February. Big deal. So insiders, many of whom have a lot wrapped up in the stock sold at the same time the general public was. Of course people were lightening their load.
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