Goldman Sachs to pay US$3.15b to settle mortgage case - Channel NewsAsia
Goldman Sachs will pay US$3.15 billion (S$3.94 billion) to resolve
claims it misled Fannie Mae and Freddie Mac on mortgage-linked
securities it sold them before the US housing bust, officials said.
The Federal Housing Finance Agency (FHFA), the conservator for Fannie
and Freddie, which were rescued by the government during the 2008
crisis, said that Goldman will repurchase the securities it sold to the
two effectively government-backed mortgage giants between 2005 and 2007.
Goldman said the agreement will resolve "all" federal and state
securities claims for mortgage-backed securities purchased by Freddie
and Fannie over the period.
Again. There is no penalty. They sold a sack of shit for $3.15b.
"Hey, this is a sack of shit!" GS undid the deal. NO PENALTY. NO
PAYMENT.
I would like to see their Stock portfolio, I'm sure they didn't pay for squat!
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