Goldman Sachs to pay $50M fine over documents scandal

[laserhaas]

Source: New York Post's Kevin Dugan

This time, the revolving door smacked Goldman Sachs on the backside.

Lloyd Blankfein’s bank is expected to pay a roughly $50 million fine and an ex-banker is expected to plead guilty to federal criminal charges that he took confidential documents from the Federal Reserve Bank of New York, The Post has learned.

The civil penalties against Goldman are among the harshest ever levied by New York. The settlement is being ironed out between Goldman and the Department of Financial Services.

The criminal charges against the ex-banker, Rohit Bansal, who joined Goldman in July 2014, and the source of the documents, New York Fed banker Jason Gross, will be filed by Manhattan US Attorney Preet Bharara, according to a person briefed on the talks.

Read more: http://nypost.com/2015/10/26/goldman-sachs-to-pay-50m-fine-over-documents-scandal/

[elmac]

1. That's like 50 cents to you or me

[laserhaas]

4. I know... they steal billions.... but its a start

[valerief]

2. Lunch money to them. nt

[laserhaas]

5. May even be that insurance companies pay it

[mikeysnot]

8. And write it off on their taxes

so we all end up paying the fine for them....

[laserhaas]

18. Yup

[laserhaas]

3. We've been seeking an indictment of Goldman Sachs over our eToys case

This is one step closer........

Here's the New York Times about our eToys

[center][font size=4]
Rigging the I.P.O. Game
[/font][/center]

[laserhaas]

6. Eric Holder says he's pissed off about criticism of his lack of prosecutions of Wall Street

Here's my thread - yesterday - about that issue

[center][font size=3]
Holder is Pissed Off About Criticism:Tough CHIT He's A Wall Street Tool
[/font][/center]
http://www.democraticunderground.com/10027289852

His office refused to prosecute Romney, BAIN Cap and Goldman Sachs

[Yallow]

7. The People He Shared The Docs With? - Off Scot Free!!! - USA! USA! USA!

Goldman Sachs marches on.

Like with Enron.

2 people go to jail.

One dies the night before starting to serve his sentence.

All the lawyers, and accountants who did, and covered up the fraud, off scot free!

Ain't Amerika Great!

[Dr Hobbitstein]

9. This isn't LBN.

It's from yesterday.

[Thespian2]

10. Very few

even noticed Goldman Sachs principal role in tanking the Greek economy...


and all the other criminal activities which GS commits each day...

[Yallow]

11. Goldman Sachs + Hillary (and Obama) = No Prosecutions - Regardless The Crime

Ain't Amerika Great!

If you aren't supporting Bernie, you deserve what Goldman Sachs will do to you.

EOM

[jeff47]

12. Why, it will take them a whole 8 seconds to replace that money!! (nt)

[Javaman]

13. 50 million? big deal. so some junior exec won't get his yearly bonus. nt

[fbc]

14. A vote for Hillary Clinton is a vote for Goldman Sachs

So, please, knock off the outrage. Goldman Sachs are "our guys."

[packman]

15. 50 million, you say?

Let me look in the couch in the executive lounge for that loose change.

[INdemo]

16. Does this mean Hillary's payment from Goldman Sachs will

only be 5 Million this month?

[laserhaas]

17. LOL...probably

[Babel_17]

19. I'm shocked at dismayed at this example of a banker ...

I'm shocked at dismayed at this example of a banker not realizing that the old days were gone for good.

Well let them lick their wounds, and may the enduring sting of the fifty million dollar fine teach them all some humbleness.

The system works.