Goldman Sachs Forced To Pay Up Over Mortgage-Backed Securities

2:58pm April 11, 2016

In this March 15, 2012 photo, a trader works in the Goldman Sachs booth on the floor of the New York Stock Exchange. Goldman Sachs reached a $5 billion settlement as part of a federal and state probe into its role in the sale of mortgages in the years le

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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.

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Goldman Sachs Forced To Pay Up Over Mortgage-Backed Securities

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