Tension rising in Goldman Sachs
Tuesday, 20 April 2010
From Fazle Rashid
NEW YORK, April 19: Tension is rising in Goldman Sachs, world's most famous investment bank as it has been charged with fraud by the Securities and Exchange Commission (SEC). The tremor has affected the Wall Street. It will severely jolt the financial market as the US economy is gradually beginning to recover from the meltdown that wrecked havoc throughout the world.
The SEC has filed a civil fraud suit that essentially says that Goldman built the financial equivalent of a time bomb and then sold it to unwiting investors, the New York Times (NYT) said. The Goldman has vowed to fight but many in Wall Street fear that the investigation will go beyond Goldman Sachs. GS has faced attacks on both sides of the Atlantic as they push for tougher financial regulation. The German government said it is contemplating legal actions against GS.
NEW YORK, April 19: Tension is rising in Goldman Sachs, world's most famous investment bank as it has been charged with fraud by the Securities and Exchange Commission (SEC). The tremor has affected the Wall Street. It will severely jolt the financial market as the US economy is gradually beginning to recover from the meltdown that wrecked havoc throughout the world.
The SEC has filed a civil fraud suit that essentially says that Goldman built the financial equivalent of a time bomb and then sold it to unwiting investors, the New York Times (NYT) said. The Goldman has vowed to fight but many in Wall Street fear that the investigation will go beyond Goldman Sachs. GS has faced attacks on both sides of the Atlantic as they push for tougher financial regulation. The German government said it is contemplating legal actions against GS.