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SEC sues Goldman Sachs for massive fraud... sends financial stocks tumbling

Friday, April 16, 2010 From The Reformed Broker: From the WSJ: Goldman Sachs tumbled 14% after the SEC charged the company and one of its vice presidents for defrauding investors "by misstating and omitting key facts about a financial product tied to subprime mortgages," the SEC said in a press release. The commission said Goldman Sachs failed to disclose vital information about a synthetic collateralized debt obligation, including the role that a major hedge fund played in selecting the portfolio, despite the fact that the investor had taken a short position against the mortgage market. A major story... Read full article... More fraud: The five BIG lies the White House loves to tell Whistleblower exposes huge potential silver scandal Shocking video exposes biggest government fraud of the past 20 years