For all the hype, $550 million sure sounds like it was priced wrong.
With the government settlement, Goldman Sachs added $3 billion in market value, so at a minimum, the fine was just a teensy low.
There are many things that can be purchased/built for $550 million and even for more $3.5 billion. There are many agencies and new entities that are better suited to manage the lousy $550 million fee than our government.
The lack of creativity and ‘balls’ our leaders continue to show is mind boggling. At a minimum this potential $3.5 billion, could have been managed by an outside party to have certain transportation projects started like high speed rail. Times schedules adhered too, penalties levied for delay. The inkling of a spark of a contribution of a new financial system.
It would have been nice to see any leader just understand that with this settlement, Goldman Sachs and all investment banks be forced to return to a private state where risk would be better managed in the future.
As public companies we guarantee ourselves future leverage debacles and wimpy fines that go wasted.
Congratulations to Goldman Sachs on pulling this off. Wow.
sounded like sour grapes on tech ticker..lol u jealous that u didn’t invest in tesla which is worth 100’s of millions versus you own crappy websites? dont be a player hater.
its kinda ironic that a few days before goldman settled the SEC charges, Obama had that private meeting with Warren Buffett who owns a ton of shares in Goldman. Boom a few days later the charges are settled and Buffett probably made off well with the stock jumping.
sounded like sour grapes on tech ticker..lol u jealous that u didn't invest in tesla which is worth 100's of millions versus you own crappy websites? dont be a player hater.
Agreed that this looks like a big example of government impotence (or collusion?) with respect to Goldman, but I’m surprised to hear you promote high speed rail, especially given your recent comments on Tesla being a boondogle.
its kinda ironic that a few days before goldman settled the SEC charges, Obama had that private meeting with Warren Buffett who owns a ton of shares in Goldman. Boom a few days later the charges are settled and Buffett probably made off well with the stock jumping.
Agreed that this looks like a big example of government impotence (or collusion?) with respect to Goldman, but I'm surprised to hear you promote high speed rail, especially given your recent comments on Tesla being a boondogle.