Goldman settles with SEC for $550 million..

[Steal]

slap on the wrist, prob tarp $.

goldmansucks (http://money.cnn.com/2010/07/15/news/companies/SEC_goldman/index.htm)

[1970 silver art]

$550 million? ? ? ? ? ? ? ? ?

:ROFL: :ROFL: :ROFL: :ROFL: :ROFL: :ROFL:

That's pocket change for a company like Goldman Sachs IMO.

[Cebu_4_2]

The settlement amount represents roughly 4% of the $13.4 billion in profits Goldman earned last year. In its first quarter of this year, the bank logged $3.5 billion in profits.

Still, the $550 million was the largest penalty a Wall Street company has ever paid to the SEC. Regulators said $250 million would be returned to affected investors and $300 million would be paid to the U.S. Treasury.

The settlement is subject to approval by a judge. Within 30 days, Goldman must wire money to three parties: $150 million to Deutsche Bank, $100 million to the Royal Bank of Scotland and $300 million to the SEC.

[TheNocturnalEgyptian]

So that's less than a month of their earnings. Big whoop.

[oldmansmith]

Give me a million, and I'll gladly give the government 40 grand. And cry with pain.