Lloyd Bankfine

The UK’s Financial Services Authority (FSA) has fined Goldman £20 million for a non-disclosure offence. Although one of the biggest fines in British financial history, it is roughly a third of what GS CEO Lloyd Blankfein paid himself in bonuses in the last fiscal.

You sort of have to laugh at the nature of the offence: Goldman committed an offence by not admitting it was being investigated about another offence in the US. The firm asked for 4,209 other offences to be taken into account. Only kidding.

Only last week Barclays and Lloyds were fingered by The Slog after being fined a rather larger amount of money by the US Justice Department….for knowingly laundering Iranian terrorist monies. They haven’t disclosed that at all over here as yet. Should they be next on the FSA’s list?