THIS IS BIG TIME "LAWYER UP"

I'm not going to shed any tears but that money could've have been spent on other things besides defending banksters.

Goldman's 2010 Legal Tab: More Than $700 Million
By LIZ MOYER And BRETT PHILBIN
MAY 6, 2011, 12:39 P.M. ET
Wall Street Journal

NEW YORK—Goldman Sachs Group Inc. spent more than $700 million on lawyers last year, as the Wall Street firm found itself under high-profile scrutiny, its chief counsel told shareholders at the company's annual meeting Friday morning.

Responding to a shareholder's question, Gregory Palm said Goldman spent $434 million on outside lawyers last year and $292 million for its own legal staff.

The Wall Street giant last year faced congressional hearings over its actions before and during the financial crisis. It also paid the biggest penalty ever by a Wall Street firm to the Securities and Exchange Commission, $550 million to settle charges it misled customers over the sale of a complex mortgage derivative.