Goldman Sachs & Co. will pay $550 million, the largest against a Wall Street Firm in history, to settle fraud charges claiming they misled buyers of mortgage-related investments. Unfortunately, a half a billion dollars is less than 5% of Goldman Sach's 2009 net income of $12.2 billions.The charges in a nut shell - Goldman Sachs sold mortgage investments without disclosing that the securities had been set up with help from a Goldman client that was betting on them to fail. Goldman said it was just an oopsy for the marketing materials to omit that key piece of information. Anyone actually buying that?
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