Goldman Deal Promises Credibility Boost For SEC

Law360, New York (July 15, 2010, 7:07 PM EDT) -- The U.S. Securities and Exchange Commission's $550 million settlement with Goldman Sachs Group Inc. could go a long way toward restoring the agency's tarnished reputation and demonstrating its newfound aggressiveness, attorneys say.

As part of the settlement — the largest-ever penalty paid by a Wall Street firm — Goldman admitted that it was a “mistake” not to tell investors that hedge fund Paulson & Co. Inc. had helped put together the collateralized debt obligation at the heart of the case. Paulson took a short position against...
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