Items Tagged with 'Goldman Sachs Group Inc.'


  • 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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  • Dow Jones waves goodbye to BofA, says hello to Goldman Sachs

    BAC, two other stocks cut from the Dow Jones Industrial Average
    Bank of America's much lower stock price caused the S&P Dow Jones Indices to cut the stock from the Dow Jones Industrial Average. The change, which is slated to occur later this month, was revealed Tuesday. So who is replacing BAC on the index? Goldman Sachs, of course.
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  • Viewpoint: At Amherst, a Simple Game

    Perhaps the best story this week (outside of the coverage you'll see here at HW, of course) involves a mortgage-related trading strategy pulled off successfully by Austin-based Amherst Securities Group LP, a fixed-income specialist focusing on mortgage-related investments.
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  • Bank Details may be Officially Released

    After reports circulated late last week that Federal Reserve officials gagged various U.S. banks regarding stress test results, the Obama administration is discussing whether to reveal some details about the test results. As a result, certain information about the condition of the top 19 U.S. banks may soon be publicly disclosed, unnamed sources told the New York Times.
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  • Fed Orders Banks Mum on Stress Tests: Report

    The U.S. Federal Reserve has told Goldman Sachs Group Inc. [stock GS][/stock], Citigroup Inc. [stock C][/stock] and other major banks not to talk about the results -- or even the process -- tied to ongoing "stress tests" at U.S. banks, Bloomberg News reported Friday morning. Federal examiners have been busy crunching numbers at key U.S. banks to determine the ability of each to withstand a lengthy U.S.
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  • AIG Discloses Recipients of Emergency Funds

    Troubled American International Group Inc. [stock AIG][/stock] on Sunday disclosed names of dozens of trading partners and financial institutions that received billions of dollars in an effort to pay down the company's debts. AIG, the recipient of more than $170 billion in taxpayer money through the Treasury Department and Federal Reserve, is now 80 percent government-owned.
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  • Goldman Sachs Sued Over MBS Deals

    The mortgage litigation machine is now turning its attention towards RMBS issuers as investors allege fraud and misrepresentation by firms that sold off loans into securitization trusts, with a new putative class-action suit filed Thursday in New York against Goldman Sachs Group Inc. [stock GS][/stock] and some of the firm's individual directors. The case, filed in Southern District Court in New York on Dec.
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  • Major Banks Owe Execs $40B: Frank 'Disappointed' By Sparse Lending

    (Update 1: shows Frank's statement on TARP provisions, released at the time this story was published) With major banks owing billions to executives and some banks stubbornly resisting assistance in capital, House Financial Services Committee chairman Barney Frank (D-MA) announced Friday the committee will hold hearings on the inappropriate use of federal funds.
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  • Goldman Looks to Cut 10 Percent of Workforce: Report

    Even the firms that have largely managed to skirt the nation's mortgage mess are finding some headwinds in a credit crunch that in the past few days has only given slight signs of easing. Goldman Sachs Group Inc. [stock GS][/stock] is preparing to lay off 3,250, or 10 percent of its work force, according to a Thursday report in the Wall Street Journal.
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