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WhaTHellsgoingonhere

(5,252 posts) Mon Apr 11, 2016, 02:46 PM Apr 2016

EDIT: (NOT!) Goldman Sachs to pay $5 billion in U.S. Justice Department mortgage bond pact

Last edited Tue Apr 12, 2016, 06:46 AM - Edit history (1)

"The settlement, which Goldman disclosed in January, stems from the firm's conduct in packaging, securitization, marketing and sale of residential mortgage-backed securities between 2007 and 2009, the Justice Department said.

Investors suffered billions of dollars in losses from the securities bought during the period, the department said.

The settlement comprises a $2.385 billion civil penalty and $1.8 billion in other relief, including funds for homeowners whose mortgages exceed the value of their property, as well as distressed borrowers. It also preserves the government's ability to bring criminal charges against Goldman and does not release any individuals from potential criminal or civil liability, the Justice Department said."

http://mobile.reuters.com/article/idUSKCN0X81TI

Disclosed in January????!!!!
Bernie's been saying they committed crimes.

Criminal???!!!
For YEARSSSSS, DOJ has claimed their activity was morally wrong but not illegal.

$5 billion???!!!
Pocket change.

$1.8 billion in Homeowner relief???!!!
The Goverment couldn't provide $1.8 billion in a multi-trillion dollar government bailout of financial institutions 8 years ago??!!!

Motherfuckers!

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EDIT: (NOT!) Goldman Sachs to pay $5 billion in U.S. Justice Department mortgage bond pact (Original Post) WhaTHellsgoingonhere Apr 2016 OP

Even the fine is fraud! Goldman actually to pay as little as 25% of fine WhaTHellsgoingonhere Apr 2016 #1

WhaTHellsgoingonhere

(5,252 posts)

1. Even the fine is fraud! Goldman actually to pay as little as 25% of fine

Reply to WhaTHellsgoingonhere (Original post)

Tue Apr 12, 2016, 06:32 AM

Apr 2016

due to tax credits.

"They appear to have grossly inflated the settlement amount for P.R. purposes to mislead the public, while in the fine print, enabling Goldman Sachs to pay 50 to 75 percent less,” said Dennis Kelleher, the founder of the advocacy organization Better Markets, referring to the government announcement. “The problem all along, with all of these settlements — and this one highlights it even more — is that they are carefully crafted more to conceal than reveal to the American public what really happened here — and what the so-called penalty is.”

http://mobile.nytimes.com/2016/04/12/business/dealbook/goldman-sachs-to-pay-5-1-billion-in-mortgage-settlement.html?referer=https://www.google.com/

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