Never would've happened ...

[Smooth Operator]

under con 'leadership'


Goldman caves.


http://www.sec.gov/news/press/2010/2010-123.htm


"Half a billion dollars is the largest penalty ever assessed against a financial services firm in the history of the SEC," said Robert Khuzami, Director of the SEC's Division of Enforcement. "This settlement is a stark lesson to Wall Street firms that no product is too complex, and no investor too sophisticated, to avoid a heavy price if a firm violates the fundamental principles of honest treatment and fair dealing."



Well done, Khuzami


Now if we can just get Cox, Bush and Cheney in orange jumpsuits for allowing Wall St. to 'go wild' in the first place…

[geeker2]

$550 million penalty for a company that generates more than $10 billion of annual earnings ..ouch that has to hurt.

Oh btw Goldman contributed approx $ 1,000,000 to Obama.

[joeydb]

Originally Posted by geeker2

$550 million penalty for a company that generates more than $10 billion of annual earnings ..ouch that has to hurt.

Oh btw Goldman contributed approx $ 1,000,000 to Obama.

I'm sure it does. 5.5 % of gross earnings is a big deal. 5.5% of net profits -- not so much.

Goldman is finished.

[geeker2]

Originally Posted by joeydb

I'm sure it does. 5.5 % of gross earnings is a big deal. 5.5% of net profits -- not so much.

look out over 5+ years and tell me how much this hurts...

GS stock up 3.3% today.

[clyde]

DeeBee has always been a kumquat.