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Essay / Research Paper Abstract
This 3 page paper summarizes the charges in the S.E.C. filing of fraud against Wall Street bank Goldman Sachs. Bibliography lists 2 sources.
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3 pages (~225 words per page)
File: KV32_HVgldsax.rtf
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listed below. Citation styles constantly change, and these examples may not contain the most recent updates. The Case Against Goldman Sachs Research Compiled for The Paper
Store, Inc. by K. Von Huben 4/2010 Please Introduction The financial meltdown left most Americans steaming mad, considering the fact they
were asked to bail out Wall Street bankers, most of whom made eye-popping salaries by conducting what turned out to be shady deals. The biggest and most influential bank of
all, Goldman Sachs, appeared to be immune to the however. But in April 2010, the Securities and Exchange Commission charged it with fraud. This paper uses a number of newspaper
articles to identify the issues in the case, as well as the political positions of both parties with regard to the lawsuit. Discussion The products offered by the banking industry
are interwoven to an astonishing degree, so that instability in one sector can bring the whole structure crashing down. This is what happened in 2008, when mortgages tanked and took
the rest of the industry with them. But in the case of Goldman Sachs, the charge is that some of the products that were sold to investors were deliberately designed
to fail. By selling them as investments that were sure to grow, when they knew they would go under, hedge fund managers and bank officials made billions of dollars while
investors lost their money. One of the main reasons for the financial crisis and near collapse of the banking industry was the "creation of investments derived from home loans made
to borrowers who couldnt afford the houses they were buying" (Goldfarb, 2010). But this lawsuit goes even further, suggesting that the bankers who created these investments "knew they were selling
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