Friday, July 16, 2010

Goldman Sax pays fine, lol cant stop laughing

LOL- just reading the news that Goldman Sax finally settled their fine about the recent illegal actions regarding misleading their customers (eg selling crap CDS deals against the best interests of the clients they were being paid to advise).

The $550m fine they paid is chump change eg, their stock price went up more than $550m in after hours trading (from $140ps to $145ps).

What made it really funny is the SEC puffery stating "how big a fine this was and how this was definitely going to discourage anyone from doing something similar in the future".

...... the $550m fine is less than 14 days of trading profits for Goldman Sax.

Your money at work. Bend over and breath easy......


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