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Goldman Sachs’ $550m fine no ‘heavy price’ if markets are anything to go by
Posted By admin On July 17, 2010 @ 2:19 am In Money Watch | Comments Disabled
London Telegraph 
July 17, 2010
Forget the tough talk from Robert Khuzami, head of the Securities and Exchange Commission. Friday’s initial $7 rise in Goldman Sachs’ share price speaks volumes.
While Mr Khuzami may have talked about Goldman paying a “heavy price” and the record fine being a “stark lesson” for Wall Street firms – traders delivered a very different verdict.
The stock market, at least, believes that Goldman has struck an amazing deal with the US regulator, which had accused it of defrauding investors about the make-up of a package of sub-prime mortgage-backed securities.
Goldman’s rising share price has added more than $1bn to the market value of the bank since details of the settlement first leaked. Not a bad return on a $500m fine (even if the shares are still a long way off the highs seen before the SEC allegations).
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URLs in this post:
 London Telegraph: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7895766/Goldman-Sachs-550m-fine-no-heavy-price-if-markets-are-anything-to-go-by.html
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 SEC Charges Goldman Sachs With Fraud: http://www.prisonplanet.com/sec-charges-goldman-sachs-with-fraud.html
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 Goldman Sachs Admits Its Software Can “Manipulate Markets in Unfair Ways”: http://www.prisonplanet.com/goldman-sachs-admits-its-software-can-manipulate-markets-in-unfair-ways%e2%80%9d.html
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