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Two bankers from Goldman Sachs profited around as much as the fine is in the Summer of 2007. Slap on the wrist is an understatement.

• whatok 11y ago
  Source please.
  • mkhalil 11y ago
    "The pair, members of Goldman's structured products group in New York, made a profit of $4 billion by "betting" on a collapse in the sub-prime market, and shorting mortgage-related securities. By summer 2007, they persuaded colleagues to see their point of view and convinced skeptical risk management executives." https://en.wikipedia.org/wiki/Goldman_Sachs#Actions_in_the_2007.E2.80.932008_mortgage_crisis https://en.wikipedia.org/wiki/Goldman_Sachs#Actions_in_the_2... http://www.guardian.co.uk/business/2007/dec/21/goldmansachs.useconomy http://www.guardian.co.uk/business/2007/dec/21/goldmansachs.... http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/2788346/Subprime-star-Josh-Birnbaum-leaves-Goldman.html http://www.telegraph.co.uk/finance/newsbysector/banksandfina...
    • whatok 11y ago
      Profited makes it sound like their bonuses were $4bn. It's a borderline useless number when framed vs a group. Regardless of what the article says, there is no way those two made that much solely on their own.