Tuesday, April 12, 2016

Washington's Blog — Goldman and Wells Fargo FINALLY Admit They Committed Fraud

Goldman Sachs has finally admitted to committing fraud.  Specifically, Goldman Sachs reached a settlement yesterday with the Department of Justice, in which it  admitted fraud:
The settlement includes a statement of facts to which Goldman has agreed.  That statement of facts describes how Goldman made false and misleading representations to prospective investors about the characteristics of the loans it securitized and the ways in which Goldman would protect investors in its RMBS from harm (the quotes in the following paragraphs are from that agreed-upon statement of facts, unless otherwise noted)…
Washington's Blog
Goldman and Wells Fargo FINALLY Admit They Committed Fraud

3 comments:

Roger Erickson said...

Lemme guess, they got clemency for turning state's evidence, & testifying against themselves?

Matt Franko said...

Who get's the munnie? Lawyers?

Bob said...

No different than your usual plea bargain.