Goldman Settlement Shows Bankers Still Paying to Play
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Neil Morrison brought his experience as a Massachusetts deputy treasurer and a year working on Wall Street to Goldman Sachs Group Inc. when the firm hired him as a Boston-based public-finance banker in 2008.
While Morrison, now 38, would help the bank pull in $7.5 million in fees for underwriting $9 billion of state bonds before he was fired in 2010, his methods ultimately backfired. Yesterday, Goldman Sachs agreed to pay $14.4 million to settle state and federal claims that Morrison broke rules meant to prevent peddling influence to win government bond business.