Goldman Sachs has agreed to pay $550 million to resolve a civil fraud lawsuit over selling a mortgage investment that was established to fail. While the SEC hailed the $550 million settlement as the largest in Wall Street history, many outside analysts questioned why the government didn’t demand more. Investors responded favorably as Goldman Sachs shares jumped by 5 percent in late trading, adding far more to the firm’s market value than the amount it will have to pay in the settlement. We speak to Matt Taibbi of Rolling Stone.
Friday, July 16, 2010
Matt Taibbi on the Goldman Sachs Settlement (video)
Democracy Now! with video: