Wow, nice to see somebody has the cajones to take them on...
http://www.nytimes.com/2010/04/17/business/17goldman.html?hp=&pagewanted=print
U.S. Accuses Goldman Sachs of Fraud in Mortgage Deals
By LOUISE STORY and GRETCHEN MORGENSON
Goldman Sachs, which emerged relatively unscathed from the financial crisis,
was accused of securities fraud in a civil suit filed Friday by theSecurities
and Exchange Commission, which claims the bank created and sold a mortgage
investment that was secretly devised to fail.
The move marks the first time that regulators have taken action against a Wall
Street deal that helped investors capitalize on the collapse of the housing
market. Goldman itself profited by betting against the very mortgage
investments that it sold to its customers.
The suit also named Fabrice Tourre, a vice president at Goldman who helped
create and sell the investment.
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