Goldman Sachs to pay $5billion to settle the investigation of its role in selling subpar mortgages in the lead-up to the financial crisis
Goldman Sachs said on Thursday it will pay roughly $5 billion to settle federal and state probes of its role in the financial crisis. The company is accused of selling shoddy mortgages in the years leading up to the housing bubble and subsequent financial crisis. Coming nearly eight years after the crisis, the settlement is by far the largest the investment bank has reached related to its role in the meltdown. But the payment is dwarfed by those made by some of its Wall Street counterparts.
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