Goldman Sachs Forced To Pay Up Over Mortgage-Backed Securities

NPR

Published April 11, 2016 at 1:33 PM EDT

The Justice Department announced today that Goldman Sachs will pay $5 billion to settle probes into the sale of mortgage-backed securities in the lead-up to the 2008 financial crisis. Goldman Sachs had disclosed the deal in January, but today’s official announcement includes further details of the agreement.

This is the fifth multibillion-dollar settlement reached with a major bank in the wake of the financial crisis. Here & Now’s Peter O’Dowd speaks with Jill Schlesinger of CBS News about the investigations and settlements.

Guest

Jill Schlesinger, business analyst with CBS News and host of “Jill on Money.” She tweets @jillonmoney.

Federal Reserve Board Chair Janet Yellen speaks during a news conference March 16, 2016 in Washington, DC. Yellen conducted a news conference and answered questions from members of the media after a Federal Open Market Committee meeting. (Alex Wong/Getty Images)

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SOMOS CONNECTICUT es una iniciativa de Connecticut Public, la emisora local de NPR y PBS del estado, que busca elevar nuestras historias latinas y expandir programación que alza y informa nuestras comunidades latinas locales. Visita CTPublic.org/latino para más reportajes y recursos. Para noticias, suscríbase a nuestro boletín informativo en ctpublic.org/newsletters.

Federal funding is gone.

Congress has eliminated all funding for public media.

That means $2.1 million per year that Connecticut Public relied on to deliver you news, information, and entertainment programs you enjoyed is gone.

The future of public media is in your hands.

All donations are appreciated, but we ask in this moment you consider starting a monthly gift as a Sustainer to help replace what’s been lost.

Donate