Friday, March 18, 2011
Goldman Sachs has been investigating eight Wall Street banks are Citigroup, Morgan Stanley, in which.
<P> "Financial Times" columnist recent survey by the U.S. government in case of mortgage bonds which Goldman Sachs when the only thorough investigation of the record straight, it can sound a little corpuscles their grievances: the New York State Attorney General Andrew - Como (AndrewCuomo) will .eight big banks began to mislead the mortgage on their ever bond rating agencies regarding the investigation. .There also will be surveyed banks colluded with the unspoken rules of Wall Street rating agencies. .</ P> <P> Central University of Finance and Banking Research Center of China, said Guo Tian Yong, banking and rating agency collusion, if true, that nature is its worst, global financial markets may therefore be a new round of instability, because the investment .will doubt their own hands, the risk of financial products in the end geometry, the value of geometry. .</ P> <P> Wall Street by the Census </ P> <P> 13, according to The New York Times reported that New York State Attorney General Cuomo began to eight banks for its ever misled regarding the mortgage bond rating agencies to investigate .. ."The New York Times" on its Web site citing two people familiar with statements that the office late Wednesday Cuomo sent subpoenas to these banks to inform their under investigation. .The focus of this investigation is no longer the bank misled investors to buy previously backed securities, but rather banks misled bond rating institutions. .</ P> <P> According to the report, survey, including Goldman Sachs, Morgan Stanley, UBS, Citigroup, Credit Suisse, Deutsche Bank, Credit Agricole, and has been Bank of America acquired Merrill Lynch. .</ P> <P> It is reported that a survey conducted Como, that he thought the rating agencies are likely to be the subject of investigation in one or more deceived. .Morgan Stanley, Credit Suisse and Deutsche Bank spokesman declined comment. .Other banks did not immediately respond to inquiries. .Involved in the investigation in the case of rating agencies Standard & Poor's, Fitch and Moody's Investors Service. .</ P> <P> Guo Tian Yong says the credibility of credit rating has been widely suspected, if true that this large-scale survey ratings agencies colluded with the beautification of the banking credit products, investors will doubt the hands of the financial products that .on the global market will likely have a great shock. .</ P> <P> officers suspected of rating agencies to draw </ P> <P> According to informed sources, the Como is also concerned about the mortgage business bank rating agencies employ staff to help beautify their mortgage transactions over the behavior of ratings. .It is being sold because a large number of high-risk mortgage bonds to be known as the high credit ratings, it attracted a large number of investors to buy. .</ P> <P> Goldman Sachs are responding to the Securities and Exchange Commission's civil fraud charges. .Litigation known as the core is a high secured debt warrants 2007-AC1 (CDO) products. .This product is the first rating agency Fitch employee Tang Chuanxin (phonetic) in the design. .You Chuan joined Goldman in 2005. .</ P> <P> reported that the fire in the mortgage stage, Goldman Sachs and other financial institutions and others provided to the Youchuan million annual salary, to attract them to pay a much lower from the rating agencies switched to their own banner. .Fitch Yukawa before leaving, his department three Fitch analysts also left to join Deutsche Bank and other financial institutions. .In general, from the rating agencies who successfully switched to the bank, will reach agreement with their former colleagues. .The autumn of 2007, financial institutions face mortgage transactions to achieve greater pressure to deal with Goldman Sachs, a Fitch analyst transaction is Yukawa's friend. .</ P> <P> under a U.S. Senate subcommittee last month that Wall Street rating agency employees involved in the process. .According to the Commission published a series of e-mail content, the S & P Goldman Sachs had tried to persuade analysts to question a transaction for the green light. .</ P> <P> Samuel Robinson, a spokesman for Goldman Sachs said last month that: "any improper influence on Goldman Sachs rating agencies say are unsubstantiated. We rely on an independent rating agencies and their procedures are given .rating. "</ P> <P> after the Financial Times columnist, San Diego State University's law and finance professor Frank Patrick F Illinois, suspected in a few years ago banks control the market, why .Government only for the Goldman Sachs? .Goldman Sachs huge loss to investors of mortgage bonds Aba-cus2007-AC1 was too much blame, but its no basis but few people question the 3A rating. .</ P> <P> ProPublica according to a recent report released by Magnetar hedge fund trading in the 26 cases, both involved in the CDO also bet short. .(Magnetar said the deals perfectly legal.) These transactions by Citigroup, Deutsche Bank, Lehman Brothers, Merrill Lynch, UBS, etc. (not Goldman) arrangement. .Goldman Sachs did not participate in the hundreds of CDO transactions, but those transactions have not been investigated. .</ P>.
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