If you are capable of looking at the big picture, you would see that the Goldman Sachs-SEC suit presented a lot of opportunity for the personalities involved. At Goldman Sachs (NYSE: GS), co-general counsel Gregory Palm was a guy in a very hot seat, and he was ultimately the man who negotiated the final details of the historic settlement. He can claim victory as much as the SEC (SEC news), though some are convinced we'll see more private litigation ensue.

So who is the guy? The New York Times offers some interesting color. (You get the feeling the man was a major source for journalists.) Palm bleeds Goldman Sachs no doubt. In the late 1990s, he worked from his home in New Jersey for months to care for his first wife, as she was dying from cancer. Rather than diversify his investments, he put the bulk of his net worth into Goldman products, and got burned. The company paid him $38.3 million to buy out his stakes in the illiquid funds. The firm did want him to sell Goldman stock, which might have spooked the markets.

Palm might have committed some missteps, like speaking to analysts just four days after the case was filed. But all in all, it appears he served his company well.

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