Wednesday, May 05, 2010

NYSE Blesses Goldman's Activities

With only a $450,000 fine, the NYSE NSEC gives Goldman Sachs a wink and nod, and gentle admonishment for Goldman Sach's highly unethical behavior. After making $billions in profits, this fine doesn't even rise to the level of a tax. It's more of a token fee.

Now that Goldman Sachs Concubines at the NYSE NSEC have blessed their behavior, we can expect their behavior to grow even more outrageous.

Great job, you boys at the SEC! I bet the execs at GS never got such service from a prostitute before! You sure can turn a trick!

NYSE fines Goldman $450,000

By Sam Mamudi

NEW YORK (MarketWatch) -- NYSE Regulation and the Securities and Exchange Commission on Tuesday fined a unit of Goldman Sachs Group Inc. /quotes/comstock/13*!gs/quotes/nls/gs (GS 149.45, -0.05, -0.03%) $450,000 for failing to abide by trading regulations. The NYSE found that from early December 2008 to the late January 2009 Goldman Sachs Execution & Clearing L.P. violated rules by failing to timely close out fail-to-deliver positions in stocks, accepting short sale positions that had not been timely closed out without first pre-borrowing the stocks, and by failing to let some customers know that it had open fail-to-deliver positions in some stocks that had not been timely closed out. While neither admitting nor denying its guilt, the Goldman unit consented to the penalty and the NYSE's findings.

3 Comments:

At 8:35 AM, Blogger edgar said...

Hello Weaseldog,

Color me shocked and surprised. He who controls the Squid controls the world.

 
At 2:37 PM, Blogger Bukko Canukko said...

Right on par with talk that BP will only be subjected to a $75 million fine even if they for destroy all life in the Gulf of Mexico, since that's the cap on damages, thanks to Exxon lobbying after the Valdez spill. All this talk about "Let's change the law and raise the damage limit to $10 billion" is BS. Even if it did pass, an oil-co hater like can see that it wouldn't apply to BP because it will be an ex post facto law.

Cause incalculable harm, pay $75 million, so what? Maggots are a different kind of "outlaws." That used to mean that a criminal was outside the protection of the law, that he could be killed on sight by anyone with no rights that might apply to anyone else. Maggot outlaws are beyond the penalty of the law. They do not have to obey rules that restrict mere mortals.

 
At 7:50 AM, Blogger edgar said...

They knew that blowout preventer was defective. A 500 ton boat anchor is all it ever was.

 

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