Friday, April 16, 2010

SEC's Civil Complaint Against Goldman Sachs For Securities Fraud

SEC's civil complaint against Goldman Sachs for securities fraud in underwriting a [synthetic] mortgage backed security (MBS) collateralize debt obligation (CDO) of subprime mortgages in early 2007. Specifically, Goldman failed to disclose Paulson & Co. was actively involved in selecting the mortgage portfolio while effectively holding a short position in the same mortgage portfolio through a credit default swap:
SEC Complaint - Goldman Sachs

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