Items Tagged with 'Goldman Sachs'

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Financial purge: Big bank stocks plunge

Dramatic crash in oil prices to blame
The DOW is not looking good as financial names took a big hit Thursday. Reeling off a 400-point loss, oil prices dropped below $27 a barrel for the second time in recent weeks. It settled at $26.21, the lowest point since 2003.
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Bernie Sanders targets Goldman Sachs, Wall Street in latest campaign ad

"Our economy works for Wall Street because it’s rigged by Wall Street"
With the race for the White House heating up, Democratic Presidential hopeful Sen. Bernie Sanders, I-VT, dropped a new campaign ad over the weekend that again paints Sanders squarely as Wall Street’s archenemy, and takes direct aim at the Wall Street bank that’s seemingly dominated the headlines of this election cycle – Goldman Sachs.
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Goldman Sachs earnings dented by RMBS settlement

CEO positive on bank's future
Goldman Sachs recorded net revenues of $33.82 billion and net earnings of $6.08 billion for the year ended Dec. 31, 2015. However, despite the profit, the recent $5 billion settlement billion between Goldman Sachs and the federal government over claims related to toxic mortgage bonds sold to investors in the run up to the financial crisis managed to put a dent in the banks earnings.
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Goldman Sachs reaches $5 billion settlement over toxic mortgage bond claims

Settlement reached with federal RMBS task force
Goldman Sachs said Thursday that it reached a $5 billion settlement over claims related to toxic mortgage bonds sold to investors in the run up to the financial crisis. The agreement, which would still need to be finalized, would resolve actual and potential civil claims brought by the U.S. Department of Justice and other parties, relating to the firm’s securitization, underwriting and sale of residential mortgage-backed securities from 2005 to 2007.
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Fed proposes new bailout rules for biggest banks

Would be required to carry $120 billion in debt to reduce taxpayer burden
Eight of the country’s largest banks would be required to raise $120 billion to comply with a new rule proposed Friday by the Federal Reserve Board, with the money designated to recapitalize the bank should it fail, lessening the likelihood of a a government bailout.
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Goldman Sachs fined $50 million for Federal Reserve leak

Former Goldman employee joined from Fed, shared confidential documents
The so-called revolving door between financial regulators and the private sector has finally swung around and bitten one of those private companies right where it hurts – their bottom line. Goldman Sachs will pay $50 million in fines after an investigation found that a former employee improperly shared confidential information obtained from the Federal Reserve Bank of New York.
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