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Goldman Sachs pays US$60-million in order to settle investigation

May 15, 2009 - 6:58am | Articles | Law aspects
Goldman Sachs pays US$60-million in order to settle investigation

The Goldman Sachs Group, Inc., a bank holding company that engages in investment banking, securities services and investment management, is agreed to pay US$60-million to settle a Massachusetts investigation into the mortgage securities packaging.

As Mass. Attorney General Martha Coakley said at a news conference the bank should pay US$50-million as compensation to homeowners and the rest to the state.
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Goldman Sachs Group | Inc. | loan | Mortgage securities | principal payment
2 points

U.S. banks in need of fresh capital for 2009

January 8, 2009 - 12:49pm | Banks and internet banks | News
U.S. banks in need of fresh capital for 2009

The Oppenheimer analyst Meredith Whitney speaks about the further stresses on the companies’ capital in 2009 as a result of a sharp increase in credit-rating downgrades on mortgage-related securities. She notes that U.S. banks will have to raise fresh capital in 2009. Whitney pointed that from July 2007 to date, over $5 trillion worth of securities have been downgraded with the pace of downgrades rapidly increased through 2008.
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banks | downgrade | loss | Mortgage securities | TARP | write-down
0 points
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