Fast Money Traders On Goldman Sachs (GS) Shocker

Karen Finerman said on CNBC's Fast Money that her initial reaction to Goldman Sachs (NYSE: GS) fraud charges was that is ridiculous to sell the stock $25 down. Instead, she decided to buy, but shortly after that she changed her mind and sold Goldman Sachs (GS). She explained that she started to think about the timing of this announcement and that it can't be coincidence that SEC released this news now, when there is a prospect of financial reform. This may be the statement that financial reform has real teeth. Karen Finerman believes that the news will get worse before it gets better. Her plan now is to wait and see what will happen next.

First thing that Joe Terranova did was to sell Google (NASDAQ: GOOG) and a bunch of other stocks. He believes that after all the regulations that have and will be done, growth will be limited.

Tim Seymour bought Google (GOOG) approximately 7% down, because he believes that this stock was punished too hard.