Goldman Fined $50 Mln For NY Fed Data Theft

Goldman Fined $50 Mln For NY Fed Data Theft

From rttnews.com

Goldman Sachs Group (GS) has agreed to pay a $50 million fine in order to settle allegations that one of its employees took confidential documents from the Federal Reserve. The New York State Department of Financial Services also said that as part of the enforcement action, Goldman has accepted a three-year voluntary abstention from accepting new consulting engagements. The problem started when in September 2014 when Rohit Bansal, a Goldman Sachs banker and a former Federal Reserve employee, allegedly forwarded an e-mail to members of his team from Jason Gross, an employee at the Fed, that contained confidential ... (full story)

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Comment #1
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Oct 29, 2015 4:44am Oct 29, 2015 4:44am

gc44
| Joined Apr 2015 | Status: Member | 517 Comments

the sheet is really hitting the fan! I think they should x the fine by 1000 as they are making way more profit than the fine imposed!!!!!

Comment #2
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Oct 29, 2015 8:40am Oct 29, 2015 8:40am

Guest
| IP XXX.XX.164.126

Trouble for the banks because now there are new criminal code laws for everyone at banks including the CEO.Makes everyone a little more concerned over violations now.

Comment #3
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Oct 29, 2015 9:39am Oct 29, 2015 9:39am

Greenstar
| Joined Apr 2011 | Status: Member | 735 Comments

They were not fined; that amount is pocket change.

Comment #4
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Oct 29, 2015 10:17am Oct 29, 2015 10:17am

Guest
| IP XXX.X.86.144

Will there be jail time for the violator/s? Doesn't this break insider trading rules?

Comment #5
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Oct 29, 2015 11:26am Oct 29, 2015 11:26am

piptime
| Joined Feb 2015 | Status: Member | 3 Comments

There should be jail time for this as well as a much larger fine. Depending on what the information contained they could have made much much more than 50 mil. 50 mil is a very small amount of money for Goldman Sachs.

Comment #6
Quote
Oct 29, 2015 11:35am Oct 29, 2015 11:35am

cristmaster
| Joined Nov 2011 | Status: Member | 584 Comments

mega buy on gbpjpy no tp target the level is break, usdjpy loooks like raket

Comment #7
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Oct 29, 2015 11:40am Oct 29, 2015 11:40am

cristmaster
| Joined Nov 2011 | Status: Member | 584 Comments

buy untill BOJ conference then will be a sell

Comment #8
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Oct 29, 2015 1:13pm Oct 29, 2015 1:13pm

JackAce
| Joined Sep 2015 | Status: Member | 18 Comments

Quoting cristmaster

Disliked

buy untill BOJ conference then will be a sell

Ignored

Why do you think it will go down? I'm quite new so please explain. Thx

Comment #9
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Oct 31, 2015 12:00am Oct 31, 2015 12:00am

Ill-b-back
Joined May 2011 | Status: Get to the Chopper | 3897 Comments

And yet,

"GS closed Wednesday's trading at $191.32, up $5.01 or 2.69%, on the NYSE. The stock further gained $0.12 or 0.06% in the after-hours trade"

lol...

Come with me if you want to live....

Story Stats

Posted: Oct 29, 2015 4:11am
Submitted by:
Newsstand

Category: Entertainment News

Comments: 9 / Views: 4,001