Friday, July 16, 2010

Goldman Sachs Settles with SEC

Posted by Plus Master at 8:07 AM
 

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.
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