July 15th, 2010
04:53 PM ET

Goldman settles with SEC for $550 million

Goldman Sachs paid $550 million to settle charges of defrauding investors in a sale of securities tied to subprime mortgages, the Securities and Exchange Commission said Thursday.

Goldman shares jumped almost 3 percent in after-hours trading on the announcement, as many predicted the company would be forced to pay $1 billion to settle the case. The stock rose more than 4 percent in regular trading due to reports that a settlement was imminent.

Read the full story on CNNMoney.com.

soundoff (One Response)
  1. BreakingNewsBlog.us

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    the BP test has clearly shown, that, the BOP and everything under the BOP, have had NO oil leaking (since, both, was made, by design, to resist to very high oil pressures) while the wellhead top has been completely closed by the new containment cap (whose MAIN PURPOSE isn't to close the wellhead, but, later, to collect and pump up the oil and SELL it...) and, that, was PERFECTLY KNOW by BP also BEFORE this test
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    THAT is what I've ALWAYS SAID in last TWO MONTHS in my article about the oil spill:
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    http://www.ghostnasa.com/posts2/070oilspillsolution.html
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    so, WHY hasn't BP used a modified version of its giant Genesis GXP 2500 idraulic shears (or the containment cap used now) to do the SAME THING but TWO MONTHS AGO and BEFORE the terrific disaster in the Gulf ?????????????????
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    could FBI and the Press INVESTIGATE on that, instead of CLOSE their eyes ????????????
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    July 15, 2010 at 7:29 pm | Report abuse |