“Goldman Sachs has agreed to pay $1.5 million to settle charges that it failed to supervise the activities of a former trader who in 2007 was able to amass an $8.3 billion trading position without detection. The head of the CFTC, Gary Gensler, is a former Goldman partner, who was recruited by Goldman right out of Wharton. CFTC Commissioner Bart Chilton said the settlement did not go far enough. Chilton dissented in part from the agreement and said the starting point for penalties should have been $7.8 million.”
http://www.economicpolicyjournal.com/2012/12/today-in-crony-america-goldman-settles.html
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