Securities and Exchange Commission investigators are focusing on a second mortgage-backed asset created by Goldman Sachs as they attempt to bolster their $1 billion fraud case against the embattled bank.
Hudson Mezzanine, a synthetic collateralised debt obligation (CDO), was structured by Goldman in late 2006, shortly before the bank made and sold Abacus, the now-notorious CDO [...]
Posts Tagged ‘Goldman Sachs’
Goldman faces second investigation as mortgage assets leave bitter taste
June 11th, 2010 by Mortgage Writer
Tags: business, credit, financial market, Goldman Sachs, investors, mortgage backed securities, mortgage investors, mortgage market, wall street
more...Prosecutors comb through Wall Street’s mortgage deals
May 14th, 2010 by Mortgage Writer
Wall Street’s biggest banks are facing a new legal onslaught, as regulators and state and federal prosecutors pore over their activities in the mortgage market in the run-up to the credit crisis.
Andrew Cuomo, the attorney-general of New York state, has opened an investigation into whether any of the eight leading banks misled the credit rating [...]
Tags: bank of america, banks, brokers, economy, financial, Goldman Sachs, interest rates, mortgage, Mortgage Bankers, mortgage brokers, US Economy, wall street
Bank probes expanding with new investigation
May 13th, 2010 by Mortgage Writer
U.S. authorities are expanding their probes of past mortgage securities deals, with New York’s attorney general opening an investigation into whether eight banks misled rating agencies, a source familiar with the matter said.
New York Attorney General Andrew Cuomo’s office on Wednesday served subpoenas on four U.S. banks and four European lenders, the source said.
Cuomo is [...]
Tags: bank of america, economy, euro zone finance, financial, Freddie Mac, Goldman Sachs, interest rates, jpmorgan, US Economy, wall street
Morgan Stanley shares drop on reported probe
May 12th, 2010 by Mortgage Writer
NEW YORK — Morgan Stanley shares dropped Wednesday following a report that the investment bank is facing an investigation into mortgage derivative deals.
Federal prosecutors are investigating whether Morgan Stanley misled investors about its role in a pair of $200 million derivatives whose performance was tied to mortgage-backed securities, according to a report in The Wall [...]
Tags: banks, CEO, economy, financial, Goldman Sachs, investment bank, investors, mortgage, mortgage securities, subprime mortgages, wall street
One Firm Refused to Aid a Goldman C.D.O. Plan
April 29th, 2010 by Mortgage Writer
A little-known investment firm has found itself caught up in the Securities and Exchange Commission’s fraud case against Goldman Sachs, The Wall Street Journal reported.
GSC Group, based in New Jersey, was contacted by Goldman back in January 2007 and asked to find mortgage-backed securities for an intricate synthetic collateralized debt deal that the bank was [...]
Tags: banks, CEO, economy, financial, Goldman Sachs, mortgage, Mortgage Bankers, US Economy, wall street
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