Montreal, Canada

More than anything, Friday's SEC (United States Securities & Exchange Commission) civil suit against Goldman Sachs is a public showcase. Goldman and the feds work together; assuming Goldman loses this case, it can easily pay government fines from just a few weeks of trading profits.

No other investment bank in the world is more profitable than Goldman Sachs. Goldman personifies everything that's wrong about Wall Street and investing. While poor unsuspecting Americans struggle to recover the funds lost from the worst bear market in decades, Goldman is busy playing both sides of the fence, deceiving its clients, shareholders and the investing public. The institution is a lame excuse for a bank; instead, it operates like a leveraged casino fully backed by the United States government and, until the SEC indictment, free to wheel and deal its way to profitability – at any cost.

Over the last few months the public has learned about some devilish trades at Goldman. Indeed, the bank operates like a hedge fund and an investment bank at the same time, structuring securities or products for clients while simultaneously betting against the same securities if they deems it to be a profitable trade.

In March, the bank was accused of playing both sides of the Greek trade when it was revealed the bank structured certain synthetic debt instruments earlier last decade to mask Greece's real debt burdens ahead of EMU, or European Monetary Union. At the same time it structured these instruments Goldman Sachs was betting against Greek government bonds recently amid a growing sovereign debt crisis.

The SEC is now coming down hard on Goldman, probably at the request of the Obama administration and Congress at large as they seek to pander electoral votes ahead of elections this fall.

While Obama might at first seem hard on Wall Street, we know better; the President was playing basketball on the White House lawn earlier last November with some of the most powerful players in U.S. banking. Later, he was sharing beers with the same executives. In my book, Obama is no different than any other politician and is probably the most anti-business President in decades.

The SEC has evidence that Goldman Sachs played two sides of the same coin four years ago when legendary hedge fund manager, John Paulson, approached the investment bank with a request to construct CDOs, or Collateralized Debt Obligations, to bet against U.S. residential housing ahead of the crash in 2007. Goldman obliged, created the notes while also placing bets on the same trade. The bank thereafter scored a bundle riding Paulson's coattails.

Is there something wrong with this picture? Are we surprised?

Unfortunately, this is how Wall Street works. Goldman Sachs is unlikely to lose any clients as a result of this long and drawn-out suit; in fact, it might even gain clients from the fiasco.

Don't feel bad for Goldman Sachs. They don't feel bad for you.