BusinessWeek
Goldman Sachs faces Brazil police probe: report
Reuters
EARNINGS PREVIEW: Goldman, Morgan Stanley Face Sluggish 2Q
Wall Street Journal
HEARD ON THE STREET: Banks Should Come Clean on SEC Subpoenas
Wall Street Journal
By DAVID REILLY Banks often try to emulate the success of Goldman Sachs. Now would be a good time to avoid one of its blunders.
Goldman Sachs Loots Their Own Store
Courtesy Home Equity Loan Term
RobertM posted a video clip from Dylan Ratigan below. Make sure to watch it. Dylan, as always makes some good points. Dylan says tax Wall Street for the "stolen money". More people need to recognize and verbalize that the financial industry is stealing money. The politically correct term has been "transfer of wealth". In reality this "transfer of wealth" was in fact thaeft at an unprecedented level. Thanks Robert for posting it and also thank you to the Anonymous commenter that also posted the link as posted on FedUpUSA.com.
This link courtesy of Laser Haas. Thank you Laser for your continued viewing and participation.
Goldman may seek extension in SEC case:
BANGALORE (Reuters) - U.S. investment bank Goldman Sachs Group Inc is likely to ask for more time to respond to the fraud lawsuit filed on April 16 by the U.S. Securities regulator, the New York Post reported, citing sources.
Goldman, which has denied wrongdoing, faces a court-imposed July 19 deadline to respond to the lawsuit filed by the Securities and Exchange Commission.
The lawsuit accused Goldman of creating and marketing collateralized debt obligations linked to subprime mortgages in early 2007, without telling investors that hedge fund Paulson & Co helped choose and was betting against the underlying securities, leading to investor losses of about $1 billion.
Goldman, which has already filed for one extension tied to the fraud case, is likely to seek an extra 30 days beyond its July 19 deadline, the sources told the paper.
Neither Goldman nor the SEC were available to comment.
Goldman was due to release second-quarter results July 20.
(Reporting by Antonita Madonna Devotta in Bangalore; Editing by Dan Lalor)
This link provided courtesy of Sean Zacharie. Thank you for your daily offerings and readership.
Read the full article at ai500...click hereGoldman, Citigroup and 13 Other US Banks Sued by Mortgage Investor
Cambridge Place Investment Management has sued 15 US banks after losing $1.2 billion on subprime mortgage-backed securities.
(July 13, 2010) -- Cambridge Place Investment Management is suing the word’s biggest banks in an effort to recoup a $1.2 billion loss tired to subprime mortgages.In the lawsuit filed in Massachusetts state courts on July 9, the hedge fund claims the banks misled the firm about its investments in subprime securities. The Boston-based firm said it lost about 50% of its investment, alleging that the banks facilitated an “environment of improper lending practices.”The lawsuit, which could encourage other investors, such as large pension funds, to bring similar lawsuits against the banking industry, represents one of the biggest cases of its kind to be filed so far in the US. The suit takes aim at Morgan Stanley, Goldman Sachs Group Inc. and about 13 other banks.
