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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (274486)	9/9/2010 3:01:30 PM
From: Giordano Bruno	Read Replies (2) \| Respond to of 306849

Deutsche Bank will begin raising 11 billion ahead of Basel next week. Valuing toxic assets is usually interesting.

To: patron_anejo_por_favor who wrote (274486)	9/9/2010 3:17:38 PM
From: coug	Read Replies (1) \| Respond to of 306849

re:..""broads should tank,"".. I say "tank the broads" or "thank the broads" or do something with the "broads".. :)

To: patron_anejo_por_favor who wrote (274486)	9/9/2010 3:31:05 PM
From: joseffy	Read Replies (1) \| Respond to of 306849

Goldman Sachs fined by British. bbc.co.uk 9 September 2010 BBC Wall Street giant Goldman Sachs fined £17.5m by FSA Goldman Sachs settled fraud charges in the US by paying $550m Wall Street giant Goldman Sachs has been fined £17.5m ($27m) by the UK's City regulator, the Financial Services Authority. The fine is for failing to tell the FSA it was under investigation for fraud by the US financial watchdog this summer. In July, Goldman settled the fraud charge with the Securities and Exchange Commission by paying $550m (£356m). BBC business editor Robert Peston said it was one of the heaviest fines ever imposed by the FSA. Margaret Cole, FSA managing director of enforcement and financial crime, said: "GSI [Goldman Sachs International] did not set out to hide anything, but its defective systems and controls meant that the level and quality of its communications with the FSA fell far below what we expect of an authorised firm." Goldman agreed to pay the US fine to settle civil fraud charges of misleading investors. The charges concerned the bank's marketing of complex mortgage investments, just as the US housing market faltered. The FSA said Goldman also did not tell them that Fabrice Tourre, the trader who helped to create these mortgage derivatives, was under investigation. This, it said, was particularly relevant as Mr Tourre moved from the US to London, and therefore came under the auspices of the UK regulator. Goldman has admitted that it made a mistake, our correspondent added. Heavy losses In April, the SEC charged Goldman with failing to disclose "vital information" that one of its clients, Paulson & Co, helped to choose which securities were packaged into a mortgage portfolio that was then sold to investors in 2007. It claimed Goldman did not disclose that Paulson, one of the world's largest hedge funds, had bet that the value of the securities would fall. The SEC alleged that investors in the mortgage securities, packaged into a vehicle called Abacus, lost more than $1bn in the US housing market collapse. In paying the SEC fine, Goldman did not admit legal wrongdoing but acknowledged that its marketing material for Abacus contained "incomplete information". Many commentators felt at the time that the bank had got off lightly.