Goldman Sachs Group Inc. faces a regulatory probe in Britain and scrutiny from the German government after the U.S. Securities and Exchange Commission sued the firm for fraud tied to collateralized debt obligations.
Prime Minister Gordon Brown called yesterday for the Financial Services Authority to start an inquiry, saying he was “shocked” at the “moral bankruptcy” indicated in the suit... Bloomberg
Remember Casablanca and the famous Captain Renault as he says to Rick: I'm shocked, shocked to find that gambling is going on in here!
So now the SEC is investigating whether other Wall Street firms misled investors over mortgage investments. Hmm...
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