Settlement Is Win for Goldman Despite Record Fine
Posted by aangsunu on 16 July 2010
Source : CNBC.com
Goldman Sachs scored a major victory in its legal battle with the Securities and Exchange Commission today, despite agreeing to pay a record-setting fine of $550 million.
The SEC is painting the case as a victory for the government, touting the fine and the fact that Goldman
// admitted to omitting important information from the marketing materials for the Abacus subprime mortgage derivative products it sold in 2007.
But that settlement is far smaller than the $1 billion many expected.