SEC Sues Goldman Sachs

The SEC has filed a lawsuit against Goldman Sachs for fraud.

Goldman Sachs, which emerged relatively unscathed from the financial crisis, was accused of securities fraud in a civil suit filed Friday by the Securities and Exchange Commission, which claims the bank created and sold a mortgage investment that was secretly devised to fail.

Goldman’s stock price is currently off about 12% with this news.   A shame this isn’t criminal court, as most of those banks should’ve been brought up on charges.

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