Federal and state prosecutors are closing yet another chapter in its investigation related to banks’ roles in the financial crisis. To that end, Goldman Sachs has agreed to pay $5.06 billion to settle claims it misled mortgage bond investors during the period leading up to the crisis. [More]
Goldman Sachs To Pay $5B To Settle Charges Of Selling Troubled Mortgages Ahead Of The Financial Crisis
Morgan Stanley To Pay $2.6B To Settle Charges Of Selling Troubled Mortgages Leading Up To The Financial Crisis
The Department of Justice has struck a multi-billion dollar deal with Morgan Stanley in what is expected to be one of the last major steps in resolving investigations related to banks’ roles in the subprime mortgage crisis. [More]
If you need a catchup-slash-refresher on why those folks down at Occupy Wall Street are so mad at the street they’re occupying, ProPublica has put together a nice juicy primer.
In an unprecedented move, the SEC warned S&P that it might be suing it over its rating of a mortgage-backed bond. It’s the first warning a credit rating firm has gotten over its behavior leading up to the financial crisis.
Get ready to slake your thirst for populist rage. Inside Job is a new documentary coming out in October that aims to expose the truth about the true architects of the financial implosion of 2008. You can probably guess from the title whom they’re fingering. Matt Damon is the narrator and it’s released by Sony Pictures Classics. Here’s the trailer:
The United States Postal Service is continuing its long slide into suckage according to a new report delivered by Postmaster General John E. Potter this morning. People sent far less mail last year (“more than double any previous decline,” says the Washington Post) and labor costs continue to rise, which helped the USPS lose $3.8 billion in 2009.