goldman

Now in its twenty-second year, the Goldman Environmental Prize program honors emerging leaders working to protect the environment and their communities....

As the market for risky subprime loans deteriorated in 2007, the investment bank's mortgage unit bet that prices would plunge, creating a nearly $4 billion windfall.

The players on both sides of the trade that the SEC has targeted knew the risks and knew one side was bound to lose. It's far from the worst sin of this mess.

As part of the agreement, the bank will pay up to $50 million to mortgage holders and $10 million to the state.

A couple of months ago the Wall Street powerhouse decided the investment banking wasn't such a good idea anymore.

So it turned itself into a full-service operation. Now it reportedly is considering becoming an Internet banking start-up.

Bob Moon reports.