Monday, 11 April 2011

Guilty of serious crime - fined 5p

What a wonderful thing it is to be in Financial Services. After being charged with securities fraud by the US Securities & Exchange Commission Goldman Sachs settled by paying a penalty of $550m. About as big a penalty as an ordinary mortal being fined 5p. They are not alone in pulling off this kind of 'punishment'. Nice work if you can get it.

1 comment:

Jonathan Price said...

Maybe we should encourage the Government to look at fines for bad corporate behaviour as a new revenue source? A few mega fines for illegal price fixing or perhaps phone hacking might save some nurses' jobs.