Goldman Sachs settles out of court for $550 million in fraud case

[rickrock305]

http://www.politicsdaily.com/2010/07/16/goldman-sachs-fine-in-fraud-case-wall-street-firm-can-afford-it/


This criminal organization defrauds the american public and gets a slap on the wrist. Lovely.

[rickrock305]

double post

[khc3]

Considering most of it will likely go back to the govt, pardon me for not jumping for joy.

I've never understood the whole idea that the govt collecting huge fines from private businesses is something freedom-minded people should applaud.

[ForTehNguyen]

drop in the bucket compared to all the money they swindled during the bubble and bailouts. That'll teach em :rolleyes:

[rickrock305]

Considering most of it will likely go back to the govt, pardon me for not jumping for joy.

I've never understood the whole idea that the govt collecting huge fines from private businesses is something freedom-minded people should applaud.


I would applaud Goldman Sachs being fined to the point of implosion for what they've done to our country.

Side note, a couple hundred million is going to two european banks, lovely huh!


Oh, and check out this chart...

http://www.ezimages.net/upload/5MIN/TheRealTrade2.gif

it's good to be Goldman and have your people in government, so you can get the tip off that the settlement is coming, so you can buy a ton of cheap call options on your own company's stock right before the announcement and make a tidy little profit of 1900% (which I'm sure more than paid for their little "fine")

[JackOSU]

drop in the bucket compared to all the money they swindled during the bubble and bailouts. That'll teach em :rolleyes:

Exactly...from the numbers I've seen they make that gross in 10 days. It's just politics as usual. Splash it all over the tabloids and do some grandstanding that the government is being tough while behind closed doors they're all having a drink together and laughing that the public is none the wiser of what they have all done. I truly feel that our government and certain entities have become so corrupt it's almost beyond fixing.

[TehLlama]

That's not even sweeping it under the rug, that's having the government provide you a new persian carpet and install it on top of the mess you've made for you.

[khc3]

I would applaud Goldman Sachs being fined to the point of implosion for what they've done to our country.

Side note, a couple hundred million is going to two european banks, lovely huh!


Oh, and check out this chart...

http://www.ezimages.net/upload/5MIN/TheRealTrade2.gif

it's good to be Goldman and have your people in government, so you can get the tip off that the settlement is coming, so you can buy a ton of cheap call options on your own company's stock right before the announcement and make a tidy little profit of 1900% (which I'm sure more than paid for their little "fine")

Kind of makes the whole idea of government "regulation" and "oversight" seem pretty silly, doesn't it?

The Federal government makes GS look like petty criminals.

[BVickery]

How does that bumper sticker go?

"Don't steal, the Government hates competition."


I wonder if it was a fine at all, seems more like a cut of the pie if anything else.

[VooDoo6Actual]

tantamount to a slap on the hands...

[variablebinary]

Drop in the bucket. I bet their total executive compensation is larger.