Goldman hints it wants to settle CDO fraud case

Friday, May 28, 2010

The Financial Times reports that Goldman Sachs is hoping to settle its CDO mis-selling fraud charges

TAGS: Law suits

Comment by: Anonymous. Posted 13 years ago [2010-06-02 01:40:11]

Talk of a settlement seems premature and wishful thinking on Goldman's part.

Comment by: Anonymous. Posted 13 years ago [2010-06-02 00:30:11]

I think everybody in the industry acknowledges this is a grey area and Goldman was close to the line if not across it so reputationally at this stage Goldman is really just paying to make this go away as complete vindication of their position is not possible at this point

Comment by: Anonymous. Posted 13 years ago [2010-05-28 15:13:34]

For the public, the disadvantage of a settlement is that we will not learn all the facts and there will be no clear judicial statement of what must be disclosed to investors. Understandably, Goldman needs to act in its own interest. But paying the large fine while admitting a lesser offense tells me Goldman does not have a clearly winnable case. At this point, the settlement doesn't save them all that much negative publicity.

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