Goldman Sachs has been in the eye of a storm over the firm’s allegedly unethical conduct before and during the financial crisis. Lawmakers have criticized the firm for selling poor quality mortgage based products to unsuspecting buyers. As the housing segment took a nosedive during the recession, more and more borrowers defaulted on their mortgages, leaving investors with huge losses. [Read more…]
Goldman Sachs Defiant Despite History of Serious Allegations
The SEC lawsuit against Goldman Sachs alleging that it designed a financial product rigged to fail is one among the many that the company has had to face of late.
Back in 2008, Goldman Sachs paid up $60 million to terminate an investigation by the Massachusetts attorney general’s office amidst allegations of irresponsible behavior by co-operating with blacklisted subprime lenders Fremont and New Century. The company claimed that it had done nothing wrong and maintained its innocence. [Read more…]
Goldman Sachs to Face More Than Just SEC Investigation
Leading investment banking and investment management firm, Goldman Sachs is continuing to bear the brunt of bad publicity and suspicion for its alleged unethical business practices.
Investigators have made it clear that excessive attention to the profits of the company rather than to investor welfare led the firm into promoting unreliable financial products. Analysts believe that these products contributed to the financial crisis, which in turn set off the economic downturn. These allegations have led to investigations and a review of the company’s actions by several bodies, including the SEC. [Read more…]
Probe into Activities of Goldman Sachs in Europe
Goldman Sachs, the investment banking giant, could face a probe into its activities by some of the European countries. Following the fraud case against the company, the United Kingdom and Germany have asked for information from the US Securities and Exchange Commission (SEC) regarding the activities of the company. [Read more…]
Federal Auditors Say SEC Ignored Red Flags against Allen Stanford
The investigations against Allen Stanford started early 2009 February 17 2009, he was charged by the U.S. Securities and Exchange Commission (SEC) with fraud and multiple violations of U.S. securities laws, which led to his arrest by the FBI on June 18, 2009, accused of $7 billion fraud. [Read more…]
Dubious Deals Come Back to Haunt Wall Street
The news that Goldman Sachs acted against the interests of its own customers have shaken up the financial world. The Securities and Exchange Commission suit against the company could have an irreversible impact on the industry, but the changes would be positive for everyone else except the banks. [Read more…]
How Exchange Traded Funds or ETF Work
An exchange-traded fund (ETF) is an instrument that tracks a single asset, or a set of assets, and trades on the exchange like a stock. It is becoming a popular investment option, but you should know how it works before you put your money in it. [Read more…]
