In one of the largest penalties in Wall Street history, Goldman Sachs Group Inc. agreed to pay $550 million to settle civil charges that it duped clients by selling mortgage securities that were secretly designed by a hedge-fund firm to cash in on the housing market's collapse.
Kevin LaCroix, Partner in OakBridge Insurance Services and author of The D&O Diary has broken down the details of the settlement, including some items that have not recieved the widespread attention in the media.
Read his insights here on the D&O Diary Blog.