http://www.nytimes.com/2010/07/16/business/16goldman.html?_r=1&ref=global-home
If approved by a Federal Judge, Goldman gets off the hook for fraud for a paltry little sum.
America THIS is unacceptable.
Fraud is fraud on any level,and should not be considered just a piss poor business practice that can be made to disappear by making a cash contribution to the SEC.
They make Federal prisons for the crap that Goldman was practicing.
The allowance of a payoff with just a fine for committing fraud in itself makes our whole Justice system nothing more than a joke.
Don't accept this garbage as a solution for the answering of fraud.
This option would not be given to you!
WASHINGTON — Goldman Sachs has agreed to pay $550 million to settle federal claims that it misled investors in a subprime mortgage product as the housing market began to collapse, officials said Thursday.
S.E.C. Accuses Goldman of Fraud in Housing Deal (April 17, 2010)
If approved by a federal judge in Manhattan, the settlement would rank among the largest in the 76-year history of the Securities and Exchange Commission, but it would represent only a small financial dent for Goldman, which reported $13.39 billion in profit last year.
News of the settlement sent Goldman’s shares 5 percent higher in after-hours trading,
