No one at Goldman Sachs will go to jail despite the company's world-destroying, multi-billion-dollar frauds that culminated in its unloading billions' worth of worthless mortgage-backed securities on its customers just before the crash.
Goldman's settlement requires it to admit that it knowingly committed these frauds for years on end.
Again, no one will go to jail.
The company will pay $5B in fines.
The deal was negotiated through the Residential Mortgage-Backed Securities Working Group, a joint state and federal working group formed in 2012 to share resources and continue investigating wrongdoing in the mortgage-backed securities market prior to the financial crisis.
New York Attorney General Eric Schneiderman, who serves on the working group, says the funds obtained by the settlement will go toward helping residents keep their homes and rebuild their communities.
“This settlement, like those before it, ensures that these critical programs—such as mortgage assistance, principal forgiveness, and code enforcement—will continue to get funded well into the future, and will be paid for by the institutions responsible for the financial crisis,” Schneiderman says in a statement.
Goldman Sachs To Pay $5B To Settle Charges Of Selling Troubled Mortgages Ahead Of The Financial Crisis [Ashlee Kieler/Consumerist]
(Image: Molly Crabapple
Edinburgh’s Nahid Akram installed a CCTV system that let him record his downstairs neighbours Debbie and Tony Woolley in their back garden, capturing both images and audio of their private conversations, with a system that had the capacity to record continuously for five days.
Internet traffic nowadays is mostly encrypted (“HTTPS”). Thus, for a few years now, Law Enforcement Agencies (LEA) have been facing far more challenges at gathering data through the interception of connections than they used to.
Civil asset forfeiture is the bizarre American practice of seizing peoples’ property without charging its owner: instead the property is charged with being the ill-gotten gains of a crime, and if the owner doesn’t pay their property’s legal bills, the police get to keep or sell the property.
Python is immensely popular in the data science world for the same reason it is in most other areas of computing—it has highly readable syntax and is suitable for anything from short scripts to massive web services. One of its most exciting, newest applications, however, is in machine learning. You can dive into this booming […]
Learning new skills is a great way to improve your resume and stand out from other candidates. Especially in a workforce in which many job-seekers have a wide variety of qualifications. With lifetime access to Virtual Training Company, you won’t have to choose a specific focus. You can pick up new expertise whenever you deem it […]
Instead of throwing out all the empties after your next party, why not transform them into some new DIY glassware? Cut back on waste and add some home ambiance with the Kinkajou Bottle Cutter and Candle Making Kit.The Kinkajou is designed as a clamp-on scoring blade to make precise cuts. Just slide a bottle in, tighten […]