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高盛证券欺诈指控 (Reuters) - Goldman Sachs Group Inc was charged with fraud by the U.S. Securities and Exchange Commission over its marketing of a subprime mortgage product, igniting a battle between Wall Street's most powerful bank and the nation's top securities regulator. U.S. The civil lawsuit is the biggest crisis in years for a company that faced criticism over its pay and business practices after emerging from the global financial meltdown as Wall Street's most influential bank. It may also make it more difficult for the industry to beat back calls for reform as lawmakers in Washington debate an overhaul of financial regulations. Goldman called the lawsuit "completely unfounded," adding, "We did not structure a portfolio that was designed to lose money." The lawsuit puts Goldman Chief Executive Lloyd Blankfein further on the defensive after he told the federal Financial Crisis Inquiry Commission in January that the bank packaged complex debt, while also betting against the debt, because clients had the appetite. "We are not a fiduciary," he said. The case also involves John Paulson, a hedge fund investor whose firm Paulson & Co made billions of dollars by betting the nation's housing market would crash. This included an estimated $1 billion from the transaction detailed in the lawsuit, which the SEC said cost other investors more than $1 billion. Paulson was not charged. Fabrice Tourre, a Goldman vice president whom the SEC said was mainly responsible for creating the questionable mortgage product, known as ABACUS, was charged with fraud. Goldman shares slid 12.8 percent on Friday, closing down $23.57 at $160.70 on the New York Stock Exchange. The decline wiped out more than $12 billion of market value, and trading volume topped 100 million shares, Reuters data show. The news dragged down broad U.S. equity indexes, which fell more than 1 percent. The perceived risk of owning Goldman debt, as measured by credit default swaps, increased. Treasury prices rose as investors sought safe-haven government debt. MORE SEVERE THAN EXPECTED "These charges are far more severe than anyone had imagined," and suggest Goldman teamed with "the leading short-seller in the industry to design a portfolio of securities that would crash," said John Coffee, a securities law professor at Columbia Law School in New York. "The greatest penalty for Goldman is not the financial damages -- Goldman is enormously wealthy -- but the reputational damage," he said, adding that "it's not impossible" to contemplate that the case could lead to criminal charges. Coffee spoke on Reuters Insider. Goldman vowed to defend itself. "The SEC's charges are completely unfounded in law and fact," it said. "We will vigorously contest them and defend the firm and its reputation." E-mails from former Washington Mutual Inc CEO Kerry Killinger read aloud during a congressional hearing this week illustrated clients' concerns about working with Goldman. In 2007, Killinger discussed hiring Goldman or another investment bank to help Washington Mutual find ways to reduce its credit risk or raise new capital, according to one of the e-mails, which Michigan Democratic Sen Carl Levin read during the hearing.
分析师称,高盛证券欺诈指控可能仅仅是个开始 This story is being updated Securities fraud charges against Goldman Sachs are just the beginning as federal regulators and investigators comb through the wreckage of a fraud-induced recession, caused by a pervasive and systemic culture of deceit at Wall Street's biggest firms, say Wall Street analysts. The firm, infamously dubbed the "great vampire squid wrapped around the face of humanity," was charged Friday by the Securities and Exchange Commission with fraud for selling securities to investors that were handpicked -- and destined -- to fail, without disclosing that to investors. The immediate losers were pension funds, foreign firms and private investors, who lost more than $1 billion on this single security. But what happened to this particular security, a collateralized debt obligation named ABACUS 2007-AC1, is emblematic of Wall Street's role in fueling the housing boom, and then profiting off its bust, experts say. A hedge fund -- betting on a bursting of that bubble, knowing the home mortgages on which that security was based -- helped pick the worst of that lot to be included in that security. Goldman didn't disclose that to investors, who happily gobbled it up. Meanwhile, that hedge fund, Paulson & Co. Inc, made $1 billion. The investors lost about an equal amount. Goldman, meanwhile, racked up the fees. "In sum, [Goldman Sachs] arranged a transaction at Paulson's request in which Paulson heavily influenced the selection of the portfolio to suit its economic interests, but failed to disclose to investors, as part of the description of the portfolio selection process contained in the marketing materials used to promote the transaction, Paulson's role in the portfolio selection process or its adverse economic interests," reads the SEC's complaint. Knowingly selling junk to investors that you're expecting to go bust is fraud. Yet that's what happened during Wall Street's go-go years, as firms knowingly funded fraudulent and predatory mortgage lenders, packaged their loans into securities and sold them to the market. The bubble eventually popped, causing trillions to be lost worldwide. Millions of families lost their homes. More than 8 million U.S. jobs were lost. And the U.S. is in the midst of the worst economic downturn since the Great Depression. http://tieba.baidu.com/mo/q/checkurl?url=http%3A%2F%2Fwww.huffingtonpost.com%2F2010%2F04%2F16%2Fgoldman-sachs-fraud-charg_n_540934.html&urlrefer=c82d6a3743f82d4027093fcc458200c4 大家觉得呢?
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