On Friday, April 16th, the United States Government, via the SEC, Securities and Exchange Commission, announce a legal suit against Goldman Sachs, claiming they didn’t provide investors disclosure to their conflict of interest in the mortgage investment as the mortgage and housing market was melting down.
Goldman Sach, which held it’s exposure to a minimum when it came to the foreclosure meltdown, that continues today. Many of the other banks on Wall Street were ravished by the meltdown, but Goldman Sachs was able to hold their ground.
Source: * AP via yahoo – Read full details
Upon news, the stock price has been down. Ticker symbol GS, you can view the update here.
Let’s here your opinion on the SEC vs. Goldman Sachs
What is your opinion of the SEC finally going after Goldman Sachs? It seems like the the general feeling on main street is that they had something to do with it, so it is about time the Government did something.
It is interesting that they are only pursuing money out of the lawsuit and are not filing any criminal cases. Wonder is that down the road, what do you think?
