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Thu Aug 9, 2012, 07:01 PM

Goldman says SEC drops probe into its role in MBS deal

Source: Reuters

(Reuters) - The U.S. Securities and Exchange Commission has dropped an investigation into Goldman Sachs Group Inc's role in selling $1.3 billion worth of subprime mortgage securities, the investment bank said in a regulatory filing on Thursday.

In February, Goldman received a so-called Wells notice from SEC staff related to disclosures in the deal's offering documents. Such notices typically indicate the agency plans to take some kind of enforcement action, and gives firms a chance to respond.

On Monday, the SEC notified Goldman that the investigation had been closed and that it did not intend to recommend any enforcement action against the bank related to the offering, Goldman said in its quarterly 10-Q filing with the SEC.

The investment bank also lifted its estimate of "reasonably possible" legal losses to $3.4 billion from a previous estimate of $2.7 billion three months earlier. The estimate does not include potential losses from legal matters that are at an early stage or that are too difficult to predict.

Read more: http://in.reuters.com/article/2012/08/09/us-goldman-10q-idUSBRE8780PP20120809

14 replies, 2192 views

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Arrow 14 replies Author Time Post
Reply Goldman says SEC drops probe into its role in MBS deal (Original post)
maddezmom Aug 2012 OP
stockholmer Aug 2012 #1
banned from Kos Aug 2012 #2
stockholmer Aug 2012 #3
brentspeak Aug 2012 #4
Guy Whitey Corngood Aug 2012 #6
truebrit71 Aug 2012 #11
Guy Whitey Corngood Aug 2012 #14
Mojorabbit Aug 2012 #5
grahamhgreen Aug 2012 #7
neohippie Aug 2012 #8
woo me with science Aug 2012 #9
One_Life_To_Give Aug 2012 #10
truebrit71 Aug 2012 #12
Mojorabbit Aug 2012 #13

Response to maddezmom (Original post)

Thu Aug 9, 2012, 07:35 PM

1. unfuckingbelieveable

 




The People vs. Goldman Sachs

Matt Taibbi: A Senate committee has laid out the evidence. Now the Justice Department should bring criminal charges



Read more: http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511#ixzz235x7DNEn


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Response to stockholmer (Reply #1)

Thu Aug 9, 2012, 09:15 PM

2. Taibbi is not an attorney and he is no financial expert

 

He is just a bullshitter who can write well.

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Response to banned from Kos (Reply #2)

Thu Aug 9, 2012, 09:32 PM

3. William Black (1000+ banksters in prison in S&L scandal) Goldman Sachs is the poster child for fraud

 

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Response to stockholmer (Reply #3)

Thu Aug 9, 2012, 09:56 PM

4. Crickets from the guy who Kos quite rightly gave the boot to

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Response to brentspeak (Reply #4)

Fri Aug 10, 2012, 12:08 AM

6. Exactly, speaking of bullshitters. nt

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Response to banned from Kos (Reply #2)

Fri Aug 10, 2012, 11:54 AM

11. Bugger off hater...

...so sick of your anti-Taibbi bullshit...

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Response to truebrit71 (Reply #11)

Fri Aug 10, 2012, 01:32 PM

14. It's just drive by posts at this point. Every time he's confronted he

runs like a little ......

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Response to maddezmom (Original post)

Thu Aug 9, 2012, 11:58 PM

5. I read this a bit ago and I cannot tell you how angry I am. I am beside myself

So many lives ruined, nest eggs lost, homes lost, and on and on and NO ONE is held accountable.

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Response to maddezmom (Original post)

Fri Aug 10, 2012, 02:57 AM

7. Sick of it.

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Response to maddezmom (Original post)

Fri Aug 10, 2012, 08:44 AM

8. I'm confused just what is it that the SEC is supposed to do

becasue it really looks like they don't do much of anything other than to cover up crimes and make excuses for the criminals that commit them. How is it possible for a company to peddle something that they know is bad, to investors as a great investment, all the while betting that the same stock is worthless and this is legal?

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Response to neohippie (Reply #8)

Fri Aug 10, 2012, 10:34 AM

9. I think you just figured out

what the SEC is supposed to do.

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Response to neohippie (Reply #8)

Fri Aug 10, 2012, 11:22 AM

10. Train new legal staff to avoid SEC regulations and enforcement

Think of it as a Post-Graduate school you get paid a stipend to attend. Learn well and hit the real jackpot at your next job.

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Response to maddezmom (Original post)

Fri Aug 10, 2012, 11:57 AM

12. Why do you think it has the nickname 'Government Sachs'....they are untouchable...

...and have a revolving door between their executive suites and D.C.....they make the rules they wind up breaking, so they re-write them...and leave the SEC to try and figure out what to do about it all...

Folks, the game is rigged. Always has been.

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Response to maddezmom (Original post)

Fri Aug 10, 2012, 01:08 PM

13. kick nt

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