TV News LIES

Tuesday, Sep 30th

Last update06:05:20 AM GMT

You are here News Economy Goldman Sachs agrees to $1.2bn settlement over mortgage bonds

Goldman Sachs agrees to $1.2bn settlement over mortgage bonds

E-mail Print PDF

Goldman SachsGoldman Sachs has agreed to a settlement worth $1.2bn (£723m) to resolve a US regulator's claims the bank sold Fannie Mae and Freddie Mac faulty mortgage bonds, the regulator announced on Friday.

Under the settlement with the Federal Housing Finance Agency, the conservator for the two government-controlled mortgage finance companies, Goldman Sachs said it agreed to pay $3.15bn (£1.9bn) to repurchase mortgage-backed securities from Fannie and Freddie.

The FHFA, which valued the settlement at $1.2bn, said the accord "effectively makes Fannie Mae and Freddie Mac whole on their investments in the securities at issue."

The $1.2bn reflects the amount that Goldman will pay, minus the estimated current value of the securities being bought back from Fannie and Freddie.

TVNL Comment:  Once again, it's 'break the law, pay a fine' time for those who caused the crash.  No one goes to prison, no one is held accountable, and the financial giants are doing the same things they did before.  Predatory capitalism rules....

More...


Most Recent Related Stories...


Secret Recordings Expose Cozy Relationship Between Goldman Sachs And The NY Fed

Carmen SegarraThe New York Fed had become too risk-averse and deferential to the banks it supervised. Its...

Trump Plaza closes its doors, becomes 4th Atlantic City casino to close this year

Trump casino closesThe supervisor drew his finger in a slashing motion moments after the final hand of blackjack...

Treasury to unveil steps to curb tax inversions

Jacob LewTreasury Secretary Jacob Lew says he'll announce new steps on Monday to prevent American companies from...

US wealth gap putting the squeeze on state revenue

income inequalityIncome inequality is taking a toll on state governments.The widening gap between the wealthiest Americans and...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!