Goldman Sachs mortgage settlements

[phanatic]

http://www.boston.com/business/markets/articles/2009/05/12/state_gets_subprime_loan_cuts_for_700/

"In the first settlement of its kind in the country, Massachusetts Attorney General Martha Coakley has reached a $60 million agreement with a Wall Street investment bank that helped facilitate the frenzy of subprime lending that saddled so many homeowners with mortgages they could not afford to pay."




This sounds like a big mistake on Goldman's part. Seems like they are opening themselves up for billions of dollars worth of lawsuits with this one. Wait until Florida, California, Nevada and Arizona catch wind of this.

[Fiat Currency]

Re: Goldman Sachs mortgage settlements

That seems to open another Pandora's box. It'll be interesting to keep an eye on this one.

[phanatic]

Re: Goldman Sachs mortgage settlements

kinda reminds me of the first lawsuit that was won against the tobacco companies, for the next few years the lawsuits just kept coming.