Monday, May 11, 2009

Massachusetts AG in $60 million deal with Goldman

http://finance.yahoo.com/news/Massachusetts-AG-in-60-apf-15200553.html

This is just Massachusetts, now ask yourself how many other states does Goldman Sachs owe money to.
They were busted dead to rights and now rather than prosecution they are allowed to make a deal for restitution.

Goldman has pledged to provide $50 million in relief to homeowners and make a $10 million payment to the state as part of the settlement. A spokeswoman for Attorney General Martha Coakley says the deal is the first of its kind in the country.

Coakley has mounted a series of legal actions, as she has traced the state's subprime problem from street-level brokers to mortgage providers and, now, to investment houses that turned the risky home mortgage loans into stock market commodities.