Goldman Sachs Group Inc has agreed to pay almost $60 million to settle an investigation into packaging mortgage securities. The bundling of these risky types of mortgages (a/k/a sub-prime) turned the U.S. housing slump into a global recession.
“There’s no dispute that Goldman Sachs and other securitizers have been involved intricately in this whole process by which loans were made to homeowners and as we have argued, in many instances, destined to fail,” Coakley said. Read more...
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