Monday, March 18, 2013


I would love to see Goldman Sachs held accountable for selling bogus securities and now that may happen.
Supreme Court won't hear Goldman class action appeal
Reuters – 16 mins ago
WASHINGTON (Reuters) - Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let stand a decision forcing it to defend against a class action lawsuit claiming it misled investors about the risks associated with mortgage securities.

Without comment, the court refused to consider Goldman's appeal of a September 2012 decision by the 2nd U.S. Circuit Court of Appeals in New York.

Goldman and its rivals have faced thousands of lawsuits by investors seeking to recoup losses on mortgage securities, a leading cause of the 2007 and 2008 credit and financial crises.

The bank has said that letting the 2nd Circuit decision stand could cost Wall Street tens of billions of dollars.

1 comment:

Ken Hoop said...

Do I hear the clink of a jail cell closing or the sound of GS splitting in pieces like shattered glass?