Too big not to fail?
April 16, 2010 8:50 AM Subscribe
SEC sues Goldman Sachs for fraud
posted by grobstein (48 comments total)
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. GS has already come under fire for "betting against" financial products it was marketing, a practice that apparently helped it prosper from the real estate bubble but come out relatively unscathed. The SEC now says that one such product was designed specifically so that a Goldman business partner, Paulson & Company, could take a short position on it. Investors were apparently not advised of this fact. Goldman's stock was off more than 10% in the half hour following the announcement.Dealbook
has a summary version of the story, and links to more material.
Investigatory story in the Times about the "Abacus" products