SEC Files Civil Fraud Charges Against Goldman Sachs

On Monday, the Securities and Exchange Commission (SEC) filed civil fraud charges against Goldman Sachs, alleging it marketed securities to customers knowing they would fail.  Goldman Sachs is one of the nation’s largest banks.  The SEC has jurisdiction to regulate banks and file civil complaints seeking money damages when it believes a fraud has occurred.  Goldman Sachs has publicly stated it will vigorously defend the charges.  The bigger public policy battle underway is to what extent private banks should be held responsible–and ultimately regulated more strictly–for the financial crisis.  For a comprehensive article regarding the case, see

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