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Government Settlement With Goldman Sachs Is No Real Punishment


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Government Settlement With Goldman Sachs Is No Real Punishment

WASHINGTON - Note: Today, the U.S. Department of Justice, including the attorneys general of New York and Illinois, as well as the Federal Home Loan Banks of Chicago and Seattle and the National Credit Union Administration, reached agreement with the investment bank Goldman Sachs. The firm will pay approximately $5 billion to resolve state and federal investigations into its fraudulent mortgage-backed housing securities, which helped cause the 2008 financial crisis.

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