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.