U.S. Bank, according to the plaintiffs, could mislead investors when selling them mortgage-backed securities, thus making his contribution to the development of the global financial crisis.
MOSCOW, 15 Jan. American Bank Goldman Sachs will pay 5.1 billion dollars to reach an agreement to end a Federal investigation of the role of institutions in the sale of securities that led to the mortgage “bubble” and the global financial crisis in 2008.
“The agreement in principle would resolve civil claims from the justice Ministry, Prosecutor’s offices of the States of new York and Illinois and the National management of credit unions,” reads the Bank’s statement.
According to plaintiffs, Goldman Sachs could mislead investors when selling them mortgage-backed securities, thus making his contribution to the development of the global financial crisis.
In September 2008, Goldman Sachs was on the verge of crisis, faced with a severe shortage of liquidity. The U.S. Federal reserve, trying to support one of the key national banks, allowed Goldman Sachs to change status to a Bank holding company.
Goldman Sachs Inc. founded in 1869 in new York. The main activities of the Bank, in financial circles known as “Firm”, are investment banking, stock trading, and asset management and securities.