After Paying Out $86 Million in Fines Over Stolen Bank Documents, Goldman Sachs Gets a Reprieve Yesterday From the Federal Reserve

by Pam Martens and Russ Martens
Wall Street on Parade

Yesterday the Federal Reserve Board of Governors announced the termination of an enforcement action against Goldman Sachs that dates back to 2016. It’s one more case where Goldman Sachs, the “great vampire squid,” throws its lower-ranked employees under the bus and quickly returns to “relentlessly jamming its blood funnel into anything that smells like money.”

The Fed had fined Goldman Sachs a paltry $36.3 million in August of 2016 over its employees using confidential supervisory information that had been stolen from the New York Fed to make presentations to clients and prospective clients.

The Fed’s settlement followed an October 28, 2015 settlement between Goldman and the New York State Department of Financial Services over similar charges. Goldman agreed to settle the NYSDFS case for $50 million.

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