Description:Â The Securities and Exchange Commission on Friday charged Goldman Sachs Group Inc. and one of its vice presidents with defrauding investors by misstating and omitting key facts about a financial product related to subprime mortgages.
Source: Marketwatch.com
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Date: 04/016/2010
Questions for discussion:
- Are there any explanations that can mitigate the damage done to the reputations of the firms involved?
- What effect do you think this publicity will have on other financial dealings between institutions?
- What can be learned from this article about the concept of risk management?
- Do you believe the SEC is serious about pursuing legal action against Wall Street firms? Explain why or why not.
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