Wells Fargo and Goldman Sachs received Wells notices over mortgage-backed securities disclosures, according to regulatory filings.No doubt the SEC has drafted up the harsh letter of admonition that they will send out, following their investigation.
Goldman Sachs disclosed the Wells notice in its 10-K, while Wells reported the notice in its 2011 annual report to shareholders.
The notice from the Securities and Exchange Commission concerns "the disclosures contained in the offering documents used in connection with a late 2006 offering of approximately $1.3 billion of subprime residential mortgage-backed securities underwritten by GS&Co.," Goldman said in its regulatory filing.
Unless, of course, R-money is elected president. Then the SEC will send over a few cases of champagne. (H/T)
Five years after the economy began sliding down, over three years since the banking system damn near fell apart because of those asswipes and not a single solitary bankster is in jail. The only thing that they've been able to nail any of those goniffs over is insider-trading, which is sort of like sending Ted Bundy to jail for illegal weapons possession.
"Hey! Those crimes were bad! Don't get caught again! Oh, and by the way, my position's still waiting for me, right? Sucks being the guy in the government job. Make it someone else's turn now."
ReplyDeleteYea, ; "Home of the brave and the land of the free"
ReplyDeletewhat a joke that has become.
w3ski