Democracy Now: Goldman Profits Increase; UK Regulators Open Probe

The Wall Street bank Goldman Sachs has announced a 90 percent increase in quarterly profits. On Tuesday, Goldman posted a $3.5 billion profit for the first quarter and said it’s setting aside over $5 billion in employee compensation. Meanwhile, regulators in Britain have opened a formal investigation of Goldman for selling a mortgage investment that was established to fail. The Securities and Exchange Commission brought a civil suit accusing Goldman of securities fraud in the case last week.

~ by wheresthemic on April 21, 2010.

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