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Goldman Sachs agrees record $550m fine

The American investment bank Goldman Sachs is to pay out $550m (£356m) the largest penalty ever imposed on a Wall Street bank.

Though for Goldman it is the equivalent of less than a week's trading revenues.

The bank admitted it should have disclosed more information to investors in a mortgage product that cost some clients massive sums.

Robert Peston reports.

  • 16 Jul 2010