Goldman Sachs who really caught some heat from the subprime mortgage securities it was selling as securities (imagine that) settled with the SEC for a little more then 500 million dollars.
In the grad scope of things this is no big deal to old Goldman. However in light that i still do not see how acting as a broker and selling securities can end up as a 550 million settlement with the SEC.
I don't know about those guys.
The brass tax of all this boils down to a fine that represents approximately 4% of what Goldman made in earnings for that year. I think they are probably happy just to get this stuff over with.
I know I would be.
Goldman Sachs Pumps Killer Earnings
SEC Calls Goldman Sachs Subprime Securities Sale Fraudulent
Financial Reform Bill is a Go