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Goldman Sachs will pay $US3.15 billion ($3.41bn) to resolve claims it misled Fannie Mae and Freddie Mac on mortgage-linked securities it sold them before the US housing bust.
(Reuters) - A New York state pension fund has given Goldman Sachs Group Inc (GS.N) $2 billion to invest with outside managers, Goldman and the fund said in a statement on Wednesday, a first for a fund that has traditionally picked managers itself.
Officials in charge of overseeing the $180.7 billion New York State Common Retirement Fund wanted to invest more in markets outside the U.S. and decided it was best to outsource the task to a company that had the skills and resources to put money to work quickly, staff in the New York comptroller's office said.
Goldman and the pension fund declined to comment on fees.
originally posted by: sayzaar
Just to put things straight. You cannot convict a bank, you can only convict people. That's part of the problem really isn't it ! Nobody ever gets convicted, just blame the bank as a whole and don't name names ! They then get away scott free and the hoodwinked public end up with paying their fines.
Goldman—the firm has donated between $250,000 and $500,000 to the Clinton Foundation—prompts an obvious question: Can the former secretary of state cultivate populist cred while hobnobbing with Goldman and pocketing money from it and other Wall Street firms? Last year, she gave two paid speeches to Goldman Sachs audiences. (Her customary fee is $200,000 a speech.)