Tuesday, April 19, 2016

Goldman Sachs ~ YIKES ~ Gotta Have the Money to Pay the Fine

5 billion in fines, etc. from crappy, misleading, Residential Mortgage Backed Securities (RMBS) sold as part of the crash.

FIVE BILLION they have to pay out. For lying, basically, for lying. Stating the RMBS' were good when they, in fact, were crappy, with a likelihood of failing.

Did I mention FIVE BILLION? Now, I don't feel sorry for them at all. In fact, I think it probably should have been more, but I wasn't privvy to the fine details at all. Yet, you have to think, if they have 5B to pay out....they must have a helluva a lot more in their coffers to still stay afloat.

It was a long article, read on Housing Wire. Feel free to read the detailed version here:

At any rate, they deserve to be punished for the wrongful acts they committed. Remarkable that it took a decade to bring them to justice. The people that suffered won't even begin to be compensated....IMHO. But, do the crime, pay the fine. Another one crossed off the DOJ's list!

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