Wasn't that an old Pete Seeger song?


Five minutes with the front page of the NY Times this morning produced two gems:



"I am very excited that there is no oil in the Gulf of Mexico." -- Kent Wells, a BP senior vice president, after announcing BP has capped its leaking well, at least temporarily.  (We'd all be excited if that were only true.)


and



“This settlement is a stark lesson to Wall Street firms that no product is too complex, and no investor too sophisticated, to avoid a heavy price if a firm violates the fundamental principles of honest treatment and fair dealing." said Robert S. Khuzami, Securities and Exchange Commission's director of enforcement, on a $55-million settlement with Goldman Sachs.   


From the same story:...  it would represent only a small financial dent for Goldman, which reported $13.39 billion in profit last year.


News of the settlement sent Goldman’s shares 5 percent higher in after-hours trading, adding far more to the firm’s market value than the amount it will have to pay in the settlement.

Submitted by xoff on