Goldman Sachs Wants To Settle On SEC Fraud Case

According to a New York Times story, it appears that  Goldman Sachs would like to settle the SEC case against it for a lesser charge. It would sill face fines in the hundreds of millions, but it would also maintain the ability to deny any wrong-doing and avoid the charge of fraud.

Such deals are all too common place, and basically, it would wipe the record clean for Goldman.  Settled cases simply disappear because they never went to trial, which is why companies often push for settlements. Given Goldman’s worth, a few hundred million dollars in fines is a relatively cheap way of getting out of a very sticky situation.

I sincerely hope that the SEC does NOT take Goldman’s settlement offer. It is quite obvious fraud was done here and it is about time one of these Wall Street giants was made to pay the piper his due.

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