Levin: There Is ‘Another Big Shoe to Drop on Goldman’
On Friday, the Securities and Exchange Commission made a bombshell announcement: It is charging Wall Street giant Goldman Sachs with civil fraud for failing to
Jul 31, 2020607.2K Shares9.7M Views
On Friday, the Securities and Exchange Commission made a bombshell announcement: It is charging Wall Street giant Goldman Sachs with civil fraud for failing to reveal to clients that a hedge fund shorting the housing market had engineered the product they were purchasing to fail.
It seems that might not be the only allegation the bank will have to deal with. Michael Hirsch at Newsweek reportsthat Sen. Carl Levin (D-Mich.), who heads the Permanent Subcommittee on Investigations, believes there is “another big shoe to drop on Goldman,” without specifying any more details. The panel has been investigating investment banks’ role in the boom and bust in detail, and is due to hold hearings with Goldman executives next week. The unnamed source in Hirsch’s article says Levin plans to reveal the nature of the allegations as soon as tomorrow.
Paolo Reyna
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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
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