"Wall Street powerhouse Goldman Sachs “willfully violated” federal law by holding weekly “huddles” through which there was at least the potential for Goldman analysts to offer its own traders and favored clients a preview of the firm’s investment research, the Securities and Exchange Commission said Thursday."
http://www.washingtonpost.com/business/economy/go…
Thoughts?
$22 million is pocket change for them.
If the fine for this is only $22 million why wouldn't they do it? They could make a lot more than that and just assume its a small cost of doing business a certain way. Besides, I doubt Goldman is the only firm that does this sort of thing.
They pay $22M fines on the way to pay real fines.
$22M is like hiring another MD
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