MIJvintage
Well-known member
SEC accuses Goldman Sachs of fraud in failing to disclose conflict in mortgage securities
http://finance.yahoo.com/news/SEC-accuses-Goldman-Sachs-of-apf-1523020722.html?x=0&sec=topStories&pos=main&asset=&ccode=
Friday April 16, 2010, 10:55 am
WASHINGTON (AP) -- The government is accusing Wall Street powerhouse Goldman Sachs & Co. of defrauding investors in its disclosures about securities it sold tied to sub prime mortgage securities as the housing market was faltering.
The Securities and Exchange Commission announced Friday civil fraud charges against Goldman Sachs and one of its vice presidents. The agency alleges that the company marketed complex subprime mortgage securities and failed to disclose to investors that a major hedge fund had bet against the securities. At one point in trading today GS shares were down over 14% :lol:
http://sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf
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IMO, the SEC has been behind the curve, as American investors have been screwed to the tune of TRILLIONS via the scams of the big Wall Street firms, such as Goldman Sachs, and many others.
WHAT TOOK the SEC SO LONG??????????????
Hopefully this will be the first in a very long line of civil prosecutions, and hopefully this will all lead to a beggining of criminal prosecutions against the financial & fiscal terrorists on Wall Street 8) ................
This could be a great beginning for flushing the toilet on the BS of Wall Street a great day for law abiding Americans but probably not :evil: ...........
http://finance.yahoo.com/news/SEC-accuses-Goldman-Sachs-of-apf-1523020722.html?x=0&sec=topStories&pos=main&asset=&ccode=
Friday April 16, 2010, 10:55 am
WASHINGTON (AP) -- The government is accusing Wall Street powerhouse Goldman Sachs & Co. of defrauding investors in its disclosures about securities it sold tied to sub prime mortgage securities as the housing market was faltering.
The Securities and Exchange Commission announced Friday civil fraud charges against Goldman Sachs and one of its vice presidents. The agency alleges that the company marketed complex subprime mortgage securities and failed to disclose to investors that a major hedge fund had bet against the securities. At one point in trading today GS shares were down over 14% :lol:
http://sec.gov/litigation/complaints/2010/comp-pr2010-59.pdf
-------------------------------------------------------------------------------------
IMO, the SEC has been behind the curve, as American investors have been screwed to the tune of TRILLIONS via the scams of the big Wall Street firms, such as Goldman Sachs, and many others.
WHAT TOOK the SEC SO LONG??????????????
Hopefully this will be the first in a very long line of civil prosecutions, and hopefully this will all lead to a beggining of criminal prosecutions against the financial & fiscal terrorists on Wall Street 8) ................
This could be a great beginning for flushing the toilet on the BS of Wall Street a great day for law abiding Americans but probably not :evil: ...........