Goldman Slammed With $5.1 Billion Fine For “Serious Misconduct” In Mortgage Selling

Monday, April 11, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
04/11/2016

Hot on the heels of Wells Fargo’s $1.2 billion settlement, Bloomberg reports that Goldman Sachs will pay $5.1 billion to settle a U.S. probe into its handling of mortgage-backed securities involving allegations that loans weren’t properly vetted before being sold to investors as high-quality bonds. “This resolution holds Goldman Sachs accountable for its serious misconduct in falsely assuring investors that securities it sold were backed by sound mortgages, when it knew that they were full of mortgages that were likely to fail,” said Acting Associate Attorney General Stuart Delery.

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