Goldman Sachs will pay $5 billion settlement - will you hail Obama?

Legion Troll

Legion Troll

A fine upstanding poster
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Goldman Sachs has agreed to pay $5.06 billion to settle claims that it misled mortgage bond investors during the financial crisis.

The settlement stems from the firm's conduct in packaging, securitization, marketing and sale of residential mortgage-backed securities between 2007 and 2009.

Investors suffered billions of dollars in losses from the securities bought during the period.

The settlement comprises a $2.385 billion civil penalty and $1.8 billion in other relief, including funds for homeowners whose mortgages exceed the value of their property, as well as distressed borrowers.

It also preserves the government's ability to bring criminal charges against Goldman and does not release any individuals from potential criminal or civil liability.

In addition, Goldman will pay $875 million to resolve claims by the New York and Illinois attorneys general, the National Credit Union Administration and the Federal Home Loan Banks of Chicago and Seattle.


http://www.reuters.com/article/us-goldman-sachs-mbs-settlement-idUSKCN0X81TI
 
Legion Troll said:
This is the view of Wall Street that JPP cons like, isn't it, Brother Leon?


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PUCKER UP, CONSERVATIVES​
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Wall street investment returns are always better when a Democratic President sits in the white house. ALWAYS!

It is a well kept secret among heavily invested conservatives that they quietly root for the Democratic candidate in national elections.
 
Conservatives demand government services but don't think they (or corporations) should pay for them, don't they, Brother Leon?
 
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