Mark Gritter (markgritter) wrote,
Mark Gritter
markgritter

SEC Fails To Use Inflation-Adjusted Dollars

Daniel Gross points out that while the SEC's $550 million settlement with Goldman Sachs is the largest dollar-amount penalty ever paid, Michael Milken's 1990 fine was larger in real dollars. Milken paid $400m; Goldman Sachs' fine is only about $330m in 1990 dollars. So the claim that this is the "biggest penalty ever assessed", in the words of the SEC's Division of Enforcement director, is a little suspect.

Investors think settling was worth it; GS market cap increased about $5 billion on the news.
Tags: finance
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