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Has Goldman Settled With The SEC?

Tyler Durden's picture


Update: Goldman settlement based on WSJ speculation. Nothing new or substantial to it, as Gasparino noted more than 2 weeks ago that Goldman would likely settle for $1-2 billion. This is just an OPEX shakeout attempt.

The latest rumor taking the street by storm is that Goldman has now settled with the SEC. We will bring you more as we get it.


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Fri, 05/21/2010 - 09:52 | Link to Comment Sqworl
Sqworl's picture

Without admitting or denying guilt..:-(

Fri, 05/21/2010 - 10:29 | Link to Comment Divided States ...
Divided States of America's picture

chump change for them. They can cover that in a few days of 'no losses guaranteed' trading

Fri, 05/21/2010 - 11:21 | Link to Comment DaveyJones
DaveyJones's picture

"has Goldman settled with the SEC?"   It's pretty easy to come to an agreement with yourself.

Fri, 05/21/2010 - 09:52 | Link to Comment EscapeKey
EscapeKey's picture

No doubt, to make an example out of this case, the SEC has slapped GS with an unnecessarily hard punishment of $250,000.

Fri, 05/21/2010 - 09:58 | Link to Comment Sudden Debt
Sudden Debt's picture

I bet they can pay it at the same speed they earn it.

In a Flashsecond!

Fri, 05/21/2010 - 10:03 | Link to Comment silvertrain
silvertrain's picture

hey will appeal that..

Fri, 05/21/2010 - 09:53 | Link to Comment pros
pros's picture

Of course..

we knew they would-

an inside job


Fri, 05/21/2010 - 09:54 | Link to Comment Bow Tie
Bow Tie's picture

they've paid off the right people now, won't happen again. just an unfortunate lack of oversight on their part. move along ppl!

Fri, 05/21/2010 - 09:56 | Link to Comment I need more asshats
I need more asshats's picture

The SEC is Goldman...

Fri, 05/21/2010 - 09:57 | Link to Comment Coldcall
Coldcall's picture


Thats pretty incredible that an agreement can be made behind closed doors between SEC and Goldman Sachs involving an issue of great public importance.

But is anyone surprised? Goldman is "god's" banker remember, read the government's banker.

I really never believed this civil suit was anything more than a big circus act between the gov and Goldman to make it look like they were being tough.



Fri, 05/21/2010 - 10:12 | Link to Comment Critical Path
Critical Path's picture

Thats pretty incredible that an agreement can be made behind closed doors between SEC and Goldman Sachs involving an issue of great public importance.


While I'm sure 95% of our population either does not comprehend nor care to understand the fraud and criminality which has and is taking place on epic proportions and 60+% not even familiar with either "Goldman Sachs" or "SEC".  This ended up just as both parties wanted it to.  Back to porn and robbing the serfs...


...that is all.

Fri, 05/21/2010 - 10:35 | Link to Comment futureb
futureb's picture

I'm also sure that 95% of the people posting on here have very little knowledge of securities law or regulation.  Would you want our government to litigate this against Goldman?  Seriously?  Imagine the cost to taxpayers combined with the very real chance that our gov't is outgunned by Goldman's very high-quality legal team. 

Let them settle.  The message has already been sent. 

Fri, 05/21/2010 - 09:58 | Link to Comment Duuude
Duuude's picture

Yeah, it'll cost them 1 sucker on 1 tentacle. Gotta protect GDMFCSSOB Hankster.

Fri, 05/21/2010 - 10:12 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture


OK, I consider myself pretty much up to date but this one slipped by me.

What is GDMFCSSOB Hankster? Though I'm almost afraid to ask.

Wait, I just worked it out. Forget I asked. :>)

Fri, 05/21/2010 - 10:21 | Link to Comment Sisyphus
Sisyphus's picture

Might be a variation of this

EDIT: Too fast with my post, did not notice that you had already figured it out. Sorry.


Fri, 05/21/2010 - 11:32 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture


After I figured it out, I had to wash my mind out with soap. So I said it out loud to make it easier, grabbed a bar of Ivory soap and got to work. :>)

Fri, 05/21/2010 - 10:38 | Link to Comment Problem Is
Problem Is's picture

"What is GDMFCSSOB Hankster?"

My friend Tom the commercial fisherman has a better one. People fall into one of two categories:

"He's alright."


"He's a worthless cock sucker..."

Tom has a black and white world... But halibut at $4 a pound or crabs at $2 a piece in cash right off of the pier... I am not arguing.

Fri, 05/21/2010 - 09:59 | Link to Comment You Cant Handle...
You Cant Handle the Truth's picture

Settling with the SEC is a given.  It's a civil case, and the SEC is known to be incompetent.  No surprise.

Criminal charges are another matter, so the FBI should be getting to work;  hopefully they'll deliver something the DOJ can't ignore.

But I expect Goldman will just throw some VP to the wolves.  Maybe they can make a ceremony out of it, and nail Fab to a big, glitterball cross with a panel across the top that says, "He died for our sins."


Fri, 05/21/2010 - 10:01 | Link to Comment Goods
Goods's picture

Ooops better cover my short position and go long now.

Fri, 05/21/2010 - 10:01 | Link to Comment Hansel
Hansel's picture

Because the "financial reform" bill passed the Senate yesterday.  Fuck corruption.

Fri, 05/21/2010 - 10:04 | Link to Comment You Cant Handle...
You Cant Handle the Truth's picture

Why the quotes?  It was related to financial stuff, and reformed something or other.  So like, it's financial reform and all.  Oh what, you wanted teeth?  You're not going to get teeth from a bunch of old men who wear dentures.  You'd need young men and women, who had something to lose.  (Like their retirement, their home, and their kids' chance at college.)

Come to think of it, it's high time to abolish the age requirements for the Senate and House.  I'd rather have young people in there that gave a shit but were incompetent than old people who don't give a shit and are also incompetent.


Fri, 05/21/2010 - 10:40 | Link to Comment The Rock
The Rock's picture

I concur!!

Fri, 05/21/2010 - 10:02 | Link to Comment mmlevine
mmlevine's picture

Nicely timed rumor on options expiration day.

Fri, 05/21/2010 - 10:04 | Link to Comment Bruce Krasting
Bruce Krasting's picture

If this is true, then it was done to calm the market fears. What bunk.

Fri, 05/21/2010 - 10:05 | Link to Comment economessed
economessed's picture

Gold-man must have just given the SEC a little "walking around money."


Fri, 05/21/2010 - 10:05 | Link to Comment SilverIsKing
SilverIsKing's picture

I don't buy it.  It's OPEX and we know who can spin rumors with the best of them.

Fri, 05/21/2010 - 10:11 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I suspect if we put the blood hounds (pun intended) on the scent of this rumor it will lead back to the blood sucker.

Fri, 05/21/2010 - 10:25 | Link to Comment carbonmutant
carbonmutant's picture

 My bet would be the White House since they have the most to gain in stopping this slide. Our community organizer can't take questions from the English speaking press with the markets in this condition.

Fri, 05/21/2010 - 10:11 | Link to Comment doomandbloom
doomandbloom's picture

pls dont take the God's name in vain..

Fri, 05/21/2010 - 10:12 | Link to Comment bobby02
bobby02's picture

Has the SEC Settled With Goldman? - ftfy

Fri, 05/21/2010 - 10:12 | Link to Comment Coldcall
Coldcall's picture

the mainstream financial media is hyperventillating as the market "rebounds spectacularly"!

Nothing to see here folks, move right along...


Fri, 05/21/2010 - 10:12 | Link to Comment mmlevine
mmlevine's picture

Should I call Lucas and ask?

Fri, 05/21/2010 - 10:14 | Link to Comment Coldcall
Coldcall's picture

GS up 3%! No-one will stop "god's work"!

Fri, 05/21/2010 - 10:15 | Link to Comment MBB
MBB's picture

Sell the rally

Fri, 05/21/2010 - 10:19 | Link to Comment GoinFawr
GoinFawr's picture

Look out Canuckistanians, you could be next:

Mark Carney worked for GS for 13 years.


eg. from (emphasis mine)

While at the Department of Finance, Mark Carney engineered the Federal Conservative government's plan to tax Income Trusts at source. Carney was a Senior Associate Deputy Minister of Finance, and is expected to succeed David A. Dodge as the Governor of the Bank of Canada on February 1, 2008.[8] Carney was appointed by Finance Minister Jim Flaherty on October 4, 2007. According to Brent Fullard of the Canadian Association of Income Trust Investors, the Department of Finance also eliminated a 15% withholding tax on foreign leverage buyout loans, and created capital insertion rules that restrict growth on Canadian trusts. This creates conditions which favor foreign entities who purchase Canadian Income Trusts and are not required to comply with rules that restrict growth.[9][10][11]

On October 4, 2007 Brent Fullard criticized Mr. Carney for his handling of the Income Trust issue while working for Finance Minister Jim Flaherty. Fullard asserts "It was Mark Carney and Mark Carney alone who thought it was okay to leave out the 38% of taxes collected by the government from income trust distributions, in his fraudulent and highly intellectually corrupt scheme to rip off 2.5 million Canadians from $35 billion of their life savings, for a whole host of reasons, none of them good. No evidence took the form of 18 pages of blacked out documents[12] that constituted Mark’s idea of accountability and transparency


Guess who benefitted from that deal...


Fri, 05/21/2010 - 12:09 | Link to Comment ZeroPower
ZeroPower's picture

Surprisingly Carneys doing a decent job for us so far. Mind you our banks aren't your banks, despite the various subsidiaries and close ties.

Fri, 05/21/2010 - 10:17 | Link to Comment Coldcall
Coldcall's picture

The finreg seems like its really upset the financial sector. Is that champagne corks i hear popping?


Fri, 05/21/2010 - 10:18 | Link to Comment cowdiddly
cowdiddly's picture

NAH, when a squid gets frightened they always squirt out a little ink to try to escape.

Fri, 05/21/2010 - 10:20 | Link to Comment bigdumbnugly
bigdumbnugly's picture



why do i have no problems believing this particular rumor?

Fri, 05/21/2010 - 10:23 | Link to Comment sumo
sumo's picture

I bet GS offered free porn in large blocks, to sweeten the deal.


Fri, 05/21/2010 - 10:42 | Link to Comment The Rock
The Rock's picture

You read my mind.

Let's see, the S.E.C.

(aka 'Secure Entitlement for Crooks'

aka 'Screw Every Citizen'

aka 'Socialist Enablement Commission'

aka 'Seriously Enabling Crime'

aka 'Sex Education Council'

aka 'Sexual Entertainment Committee'

aka 'Sexual Exchange Commission'

aka 'Sexually Explicit Content'

aka 'Stop Enjoying Chatroulette'

aka 'Swallowing Executive Come'

aka 'Sex and Erotica Commission'

aka 'Security Exchange Corruption')

neogotiates a deal with GS??  In other words, the hustlers (GS) negotiated untouchable hustler status in exchange for a lifetime subscription to Hustler magazine for all the SEC execs making $200K or more?  Right?



Fri, 05/21/2010 - 10:30 | Link to Comment carbonmutant
carbonmutant's picture

This isn't going to be settled until Goldman gets what it wants.

Fri, 05/21/2010 - 10:37 | Link to Comment bigdumbnugly
bigdumbnugly's picture

good one, mutant!

Fri, 05/21/2010 - 10:47 | Link to Comment Crab Cake
Crab Cake's picture

This isn't going to be settled until the entity known as Goldman Sachs is six feet under.

Even the sheep out there know that GS = wolf.  They can smell it, and they hate it. 

My prediction is that Goldman Sachs, as an ongoing concern, will not exist by 2020.  It will either be burnt in the revolution, given up as a scapegoat when TSHTF by the DC/WS mafia, or it will be dismantled by law. 

Fri, 05/21/2010 - 10:55 | Link to Comment MsCreant
MsCreant's picture

I already own you people. You are lucky if we pay you morts anything. It's so funny because it's money we stole from you any way. The details still have to get worked out. I am in the details.

Like my perdie smile?

Fri, 05/21/2010 - 11:24 | Link to Comment DaveyJones
DaveyJones's picture

didn't recognize you. How was the operation?

Fri, 05/21/2010 - 11:44 | Link to Comment MsCreant
MsCreant's picture

Shhh! I'm in character. Uh, you minion.

This picture fucking cracked me up.

Fri, 05/21/2010 - 10:52 | Link to Comment CoverYourBasis11
CoverYourBasis11's picture


Fri, 05/21/2010 - 10:58 | Link to Comment ABCStore
ABCStore's picture

Tyler, you should've inserted "unexpectedly" in the title...

Fri, 05/21/2010 - 11:04 | Link to Comment Mesquite
Mesquite's picture

Probably pay it out of their Public Relations Budget...

The Squid has suction...Oh yeah..

Fri, 05/21/2010 - 11:12 | Link to Comment Ripped Chunk
Ripped Chunk's picture

$1 to $2 billion for what shouls hve been AT LEAST$50 billion.

November incumbent bloodbath. Make it happen!

Fri, 05/21/2010 - 11:32 | Link to Comment Dr Hackenbush
Dr Hackenbush's picture

Do they release all the hostages or do they hold on to a few, just in case?

Fri, 05/21/2010 - 11:38 | Link to Comment topshelfstuff
topshelfstuff's picture

before the Public gets to hear the scripted spin the crooks have to place their Bets

Fri, 05/21/2010 - 11:49 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

1-2 billion doelarrs from each of GS' brass, right?  Lloyd I want your Chandelier.  It will go nice in the town ballroom.

Fri, 05/21/2010 - 11:52 | Link to Comment Apostate
Apostate's picture

They had to settle. Otherwise, the SEC would have to take on the other major banks. Including those that it doesn't have jurisdiction to fight.

A desperate gasp before the end for the troglodytes of the SEC. 

Fri, 05/21/2010 - 12:24 | Link to Comment Pinky
Pinky's picture


It hit me late last year: It was all a big sting. 

It looks like a new (enh? Do I smell Cheney?) faction revealed itself and threw down a gauntlet during this eternal/interminable war between the Krauts and the Crown. The marks: The International BigFish shorting the U.S. and calling its loans during the collapse phase of the (supposedly) dying USD$$, which is (erhm, was?) way past its sell-by date.The loan-calling and shorting phase is part of "The Formula" used to wrap up a fractional-reserve Ponzi. See Argentina, hundreds of years of European history, etc.

Here's what happened instead (my theory): The GS-Fed-Treas-SEC nexus, ie., the quants/HFT, plunge-protection team, Madoff-styled Ponzis, derivatives, "produce the note" caselaw that proved SIVs non-recourse, etc. etc. buggered the whole works. Something went horribly wrong on the way to the takedown. European plans to rise from the rubble were tabled at the 11th hour (Copenhagen anyone?). NOTHING turned out the way the International BigFish expected. They were fleeced. We the lumpen-investors were collateral damage. Sorry about those eaten shorts. OK not really. Lesson: Don't short the U.S. The U.S. dollar has survived (so far) as world reserve currency,which was the whole point. Now watch them take out the EMU while sovereign wealth funds and euro-globalist diehards bray like donkeys "We'll sue!" and "You'll never work in this town again!"

Bottom line: GS will settle with its co-conspirators at the SEC (eventually), and be richly rewarded behind the scenes for an inside job well done. The Cheney (?) faction won (for now). Game over (for now). Now for the cleanup here in the states. Got JOBS? No? Rats.


Fri, 05/21/2010 - 12:47 | Link to Comment Chemba
Chemba's picture

Has Goldman settled with the SEC?  Interesting question, but probably the wrong one.  Right question is will they settle with the SEC, with a realistic but non fatal slap on rear?  Answer to that is unequivocably YES.

Fri, 05/21/2010 - 14:49 | Link to Comment Ancona
Ancona's picture

Goldman Sachs representatives calmly told the SEC investigating panel that if they continued on the course of actually taking this to court, they would nuke the market.


These scumbags have the world by the nuts with their derivatives, and if they decide to squeeze them.......look out below.

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