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.
"Markets are overdue for a correction," Rogers told CNBC in a telephone interview Saturday. "Any market that goes up this much, this fast, this steadily without correction - it's not normal.
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.
Warren Buffett can't be happy today that the SEC is charging Goldman Sachs with fraud.
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.
Goldman Sachs was accused of securities fraud for allegedly failing to disclose conflicts of interest in subprime mortgage securities it sold to investors, who ultimately lost more than $1 billion.
The NASDAQ Composite and Dow rose for the seventh consecutive week, while the S&P 500 halted its winning streak, posting a weekly loss of 0.19%. US stocks fell during Friday's trading session, following news that the Securities and Exchange Commission charged Goldman Sachs with fraud related to subprime mortgages.
Stocks pared their losses Friday as some traders saw the selloff that resulted from SEC charges against Goldman Sachs for securities fraud as a buying opportunity.
Financials plunged on Friday as fraud charges against Goldman sent investors scrambling. How should you trade the impact? What must you know?
Investors have overreacted to the SEC charges against Goldman Sachs, and the stock is still a buy ahead of its earnings announcement, analysts told CNBC Friday.
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.
"This makes the investor sit back and say, 'This is exactly why I'm not in the market. It's a good-old-boy network'" says one market pro of the Goldman Sachs charges.
The political fur is flying on Wall Street over the Goldman Sachs allegations.Few are trying to defend Goldman if the substance of the allegations are correct; however, the Obama administration has many enemies on the Street. Many are openly questioning the timing of the announcement. Why? Because a vote on financial reform is imminent...and victory is not assured.
According to his sources, the bank was long on ABACUS, not short.
Wall Street fraud allegations sent stocks tumbling on Friday. But don’t freak out. You can profit while others panic.
What follows is a look at stocks in the S&P 500 displaying unusual volume in today's trading session.
Wall Street’s truths are hard won, hard learned, and too often forgotten. The balmy breezes of strong earnings and improving economic data continue to waft and are embraced by investors who are enjoying this wonderful respite after last year’s unpleasantness.
Stocks skidded Friday, snapping a six-day winning streak, after the SEC shocked the market, charging Goldman Sachs with fraud over its handling of subprime mortgages.