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Goldman Sachs Reaches $5 Billion Settlement over Financial Crisis

HeadlineJan 15, 2016
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Goldman Sachs has reached a tentative $5 billion settlement with federal and state investigators over the investment bank’s role in the 2008 financial crisis. Goldman was under investigation for lying about the value of the mortgage-backed securities it sold in the years leading up to the crash. The sale of toxic securities helped trigger the global economic recession. Under the terms of the tentative settlement, Goldman will pay billions in civil penalties. No one will go to jail.

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