Goldman Sachs SEC Settlement Could Hit $5 BILLION: Fox Business Network

Remember this is Obamas SEC - the head of the SEC was one of the people told specifically about the Madoffpyramid scheme but did nothing out of poliical fear of reprecussions and she was rewarded for her cowardice by a promotion similar to the bankers and the bailouts. the economic impact of GS frauds is tough to calculate because while the bailouts, bonuses, 100% payback on bad debt (AIG), free money - all agreed to by Obama are fairly clear. It's how they interacted with the large banks and caused the collapse of economy in the US and other countries - that's tougher to calculate and how if Obama had done his job in Feb 09 that we would be through this and GS would be stable now. The cowardice of the SEC and kissy face practices with the cos it's supposed to regulate is well known - criminal allegations shold never be dropeed and any civil deal should be at the highest end and come with stipulations of absolute compliance in the criminal probe
Read the Article at HuffingtonPost