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Friday, July 16, 2010

  • Goldman Sachs Settles Civil Fraud Case for $550M — Less Than It Reportedly Expected, and With No Admission of Criminal Wrongdoing

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    Goldman Sachs has agreed to pay $550 million to resolve a civil fraud lawsuit over selling a mortgage investment that was established to fail. While the SEC hailed the $550 million settlement as the largest in Wall Street history, many outside analysts questioned why the government didn’t demand more. Investors responded favorably as Goldman Sachs shares jumped by five percent in late trading, adding far more to the firm’s market value than the amount it will have to pay in the settlement. We speak to Matt Taibbi of Rolling Stone. [includes rush transcript]

  • The Food Bubble: How Wall Street Starved Millions and Got Away With It

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    While Goldman Sachs agreed to pay $550 million to resolve a civil fraud lawsuit filed by the SEC, Goldman has not been held accountable for many of its other questionable investment practices. A new article in Harper’s Magazine examines the role Goldman played in the food crisis of 2008 when the ranks of the world’s hungry increased by 250 million. We speak to Harper’s contributing editor Frederick Kaufman. [includes rush transcript]

  • Civil Rights Attorney Lynne Stewart Resentenced to 10-Year Term — Nearly Five Times Her Original Sentence

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    The civil rights attorney Lynne Stewart’s sentence was increased Thursday after an appeals court ruled that two years and four months of prison time was too light. Stewart was found guilty in 2005 of distributing press releases on behalf of her jailed client Sheikh Omar Abdel-Rahman, also known as the "Blind Sheikh." We play excerpts of Lynne Stewart’s last broadcast interview before she was jailed in November and speak to independent journalist Petra Bartosiewicz. [includes rush transcript]