SEC charges Goldman Sachs with fraud
The SEC charged Goldman Sachs and one of its high-ranking executives with fraud today, alleging that it advised investors to go bullish on mortgages while GS secretly sold short:
The SEC brought charges against Goldman and one of its vice presidents, ``for defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the US housing market was beginning to falter,'' it said.