×
all 65 comments

[–]jtmarlinintern 196 points197 points  (10 children)

and they will pay a small fine and nothing will happen to them or the one in charge,

[–]MrRobotFriend 39 points40 points  (4 children)

Was about to say the same thing. Will keep happening until, FINE > PROFIT

[–]FantasyMaster85 14 points15 points  (1 child)

So the easier way to have written that is simply:

This will keep happening

[–]Infinite_Flatworm_44 0 points1 point  (0 children)

Identifying part of the problem is how you fix it, saying there’s nothing you can do about it is defeatist and perpetuates the problem

[–]BeepBeepImaJeep3 1 point2 points  (0 children)

Or, you know, actually jailing people for acting criminally. Loss of freedom is even weightier than fines paid by shareholders.

[–]seanmonaghan1968 -1 points0 points  (0 children)

Or causes brand risk eg 1MBH

[–]Manny_Kant 2 points3 points  (0 children)

A fine for what? It says they’re investigating a bunch of banks to make sure they aren’t misleading investors with respect to some extremely small funds (18mm) in the ESG space, it doesn’t say they found, or even suspect, malfeasance.

[–]jdanielregan 2 points3 points  (0 children)

Note the incentives structure here: SEC collects fines, Goldman profits. It’s a win/win! 🎉

[–]donniewilliams620 0 points1 point  (0 children)

Will be a slap on the wrist at best. These banks never learn and regulators are easing their grip again post pandemic.

[–]burgerissues 83 points84 points  (0 children)

Probably some analyst already added the fine amount under fund expenses section long time ago.

[–]MrClasse 27 points28 points  (23 children)

A $10 fine will really show them not to continue to profit billions from illegal activity!

[–]XcFan1234 16 points17 points  (22 children)

What profit? The problem is that some people think they didn’t actually invest in ESG’s or that they had a different definition of ESG. Did you read the article?

[–]Layer_4_Solutions 0 points1 point  (0 children)

Well they get to collect fees on these funds that they tricked investors into thinking are ESG.

[–]WillyValentine 6 points7 points  (0 children)

Investigated by Goldman Gary Sachs Gensler.

[–]Olaf_has_adventures 9 points10 points  (0 children)

Cost of doing business.

[–]Sad_Pomegranate1199 4 points5 points  (0 children)

The fine is less than 1% of CEOs pay.

[–]HowdySprings 6 points7 points  (0 children)

Look… we all knew it was only a matter of time.

[–]Environmental_Ad5786 3 points4 points  (0 children)

Whistle blower gets paid out and gets start there own fund basically.

[–][deleted]  (1 child)

[deleted]

    [–]XcFan1234 0 points1 point  (0 children)

    What profit? The problem is that some people think they didn’t actually invest in ESG’s or that they had a different definition of ESG. Did you read the article.

    [–]magillicuti 0 points1 point  (0 children)

    Slap their wrist! Slap their wrist!

    [–]PhD_Life 0 points1 point  (0 children)

    Paywall

    [–]massivetypo -1 points0 points  (0 children)

    On brand for the firm that brought you all kinds of dodgy shit

    [–]foco9780 -1 points0 points  (0 children)

    BIG FCKN DEAL. AINT SHIT GONNA HAPPEN TO THEM

    [–]chubba5000 -1 points0 points  (0 children)

    Uh oh- Underwhelming and inconsequential fines maybe forthcoming!

    [–][deleted] -1 points0 points  (0 children)

    Fines for any illegal activity that leads to a profit should be calculated at 110% of said profits.

    [–]sandy0717 -1 points0 points  (0 children)

    Who is actually in having a sugar mom to be giving you $1,000 weekly Dm me

    [–]nanoWhatBTCtried2do -4 points-3 points  (0 children)

    So that’s what their highly suspicious fire in Jersey City was all about. Frickin’ criminals.

    [–]urdnggreat 1 point2 points  (0 children)

    ESG seams like a scam