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The $550 million typo

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Goldman has settled the Abacus suit [2] with the SEC, and will pay a $550 million fine:

Settlement papers filed in a New York court contained the following statement from Goldman. “It was a mistake for the Goldman marketing materials to state that the reference portfolio was ‘selected by’ ACA Management LLC without disclosing the role of Paulson & Co. Inc. in the portfolio selection process and that Paulson’s economic interests were adverse to CDO investors. Goldman regrets that the marketing materials did not contain that disclosure.”

Barry Ritholtz was right [3] back in April.

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