Goldman Sachs to pay $5 billion in mortgage settlement
Bibliographic record
Abstract
For its role selling shoddy mortgages in the lead up to the housing bubble and financial crisis of 2008, investment bank Goldman Sach has agreed to pay out about 5 billion dollars in a settlement with U.S. Department of Justice, other regulators, and the New York and Illinois Attorneys General. Despite having to pay out more than 2 billion dollars in penalties and 1.8 billion dollars mortage forgiveness and refinancing for consumers, Goldman's getting off relatively lightly, compared to some other Wall Street banks. Bank of America's paid out tens of billions of dollars in fines, while JP Morgan paid out $13 billion dollars when it reached a similar settlement with the same federal task force, dwarfing Goldman's announced settlement. Last quarter, the firm earned more than 1.3 billion dollars, and as a result of the settlement, it said its fourth quarter earnings will be reduced by a billion and a half dollars. Goldman's scheduled to report those results on Wednesday.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.002 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.001 | 0.000 |
| Open science | 0.001 | 0.001 |
| Research integrity | 0.000 | 0.001 |
| Insufficient payload (model declined to judge) | 0.103 | 0.007 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; both teacher heads agree on what is shown here.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".