January 14, 2016

IT WAS JUST FRAUD:

Goldman Sachs agrees to tentative $5.1B mortgage settlement (Kevin McCoy, Kaja Whitehouse and Paul Davidson, 1/14/16, USA TODAY)

Goldman Sachs Group (GS) has reached a nearly $5.1 billion tentative settlement of a federal and state investigation of the investment banking giant's handling of mortgage-backed securities before the national financial crisis, the bank said Thursday. [...]

Generally speaking, many such loans proved to be riskier than advertised to buyers, and ultimately helped spark the 2008 financial crisis. Other major banks, including JPMorgan Chase, Citigroup and Bank of America, have reached similar, multi-billion dollar settlements.

Posted by at January 14, 2016 6:34 PM

  

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