With the Senate scheduled to begin debate on a financial overhaul bill this week, the fraud suit against the Wall Street titan Goldman Sachs has emboldened Democrats to ratchet up pressure on Republicans who oppose the Obama administration’s proposal.
Veteran financial analyst Dick Bove, with Rochdale Securities, sent out a research report Monday morning calling the SEC’s case against Goldman Sachs weak, but says the events of Friday could be setting the stage for another financial system collapse.
The executives had sought to balance Goldman’s positive bets on the mortgage market, rather than take an overall negative view, a spokesman told the New York Times.
S.E.C. Enforcement Director Robert Khuzami told CNBC that pursuing fraud related to the financial crisis is a top priority at the agency, after the agency filed a $1 billion fraud charge against Goldman Sachs.
As Wall Street considers the implications of the Goldman Sachs fraud investigation European governments and regulators are beginning to formulate their response.
Accusations that Goldman defrauded customers who bought investments tied to risky subprime mortgages have only just begun to reverberate through the financial world, reports the New York Times.
Want the real story? Cramer thinks he has it.
Take advantage of the declines in these stocks, Cramer says. Friday’s “scandal” won’t keep them down for long.
Cramer explains why Friday’s news won’t derail this market.
The Securities and Exchange Commission knew that Allen Stanford was involved in a Ponzi scheme as far back as 1997, according to a report released Friday by SEC Inspector General David Kotz.
Financials plunged on Friday as fraud charges against Goldman sent investors scrambling. How should you trade the impact? What must you know?
The SEC filed a civil suit against Goldman Sachs on Friday accusing the financial giant of making "misleading statements and omissions" in connections with CDOs that were structured and marketed to investors.
According to his sources, the bank was long on ABACUS, not short.
Avon Products has put four executives on administrative leave, including three in China and one in New York, as part of an investigation of bribery allegations.
A new audit report by the Securities and Exchange Commission's Inspector General reveals what whistleblowers like Harry Markopolos of Madoff fame already knew: the SEC's program for rewarding tipsters is badly flawed.
The federal judge in accused Ponzi schemer Allen Stanford's criminal case says he wants some answers before agreeing to Stanford's request for yet another new legal team.
Stocks pulled off a gain Tuesday after a see-saw session as techs and industrials gained, while energy and bank stocks were weak.
Victims of the alleged $7 billion Allen Stanford Ponzi scheme may get a greater voice in how what's left of their investments will be divvied up.
Stocks advanced Tuesday after a jump in consumer confidence and encouraging read on housing. Tech and telecom were the big trading story amid news that Apple's working on an iPhone that works on the Verizon network.
U.S. stock index futures poionted to a modest gain at the open on big news in the smartphone industry and ahead of reports on housing and consumer confidence.