Cost of Financial Reform for Goldman Sachs...$550 MILLION (a small price to pay for $16.2 BILLION in bonuses)

How ironic, the day our band of incompetent Senators pass a watered down, farce of a  financial reform bill, Goldman Sachs settles with the SEC for an estimated $550 MILLION. Yes, you to can stick it to whomever and whenever it is in your best interest and all you need to do is write a check.

New York Times January 21, 2010

Despite a record 2009, the bank announced that it had set aside only $16.2 billion to reward its employees.

Naturally, Goldman Sachs will not admit any wrongdoing. One half a billion dollars for not doing anything wrong. The market was in a position to roll over and test the lows of the day until the SEC saved the day with "SEC plans 'significant' announcement Thursday" . The U.S. stock market launched around 2:30 pm CDT based on the rumor and why not, just like Goldman Sachs, Wall Street is equally corrupt and manipulative.

CNBC was all over, "maybe, just maybe the Goldman Sachs settlement will remove the cloud hanging over the market and be the reason for a rally". Maria was giddy! The Standard and Poor's futures launched from 1082 to 1095 in less than 1/2 hour on the rumor. Clearly the stench of economic data released earlier in the day and yesterday instantaneously became meaningless..

AT 3:50 pm CDT Goldman Sachs stock is up $12.30+ clear evidence that Wall Street loves it when one of their hose-bag brothers gets off with a fine. Business as usual reigns. Yes America, Wall Street's lobbying investment has paid off nicely for them...as always!

And to think that prior generations actually had dirt under their fingernails and made huge sacrifices for this!!!!!!!!!!!!!!!!!!!!!