Goldman Sachs, which emerged relatively unscathed from the financial crisis, was accused of securities fraud in a civil suit filed Friday by the Securities 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 deal that helped investors capitalize on collapse of the housing market. Goldman itself profited by betting against the very mortgage investments that it sold to its customers.
Workers in BMW's auto plants in Germany make twice as much as US workers in BMW plants who make $15 an hour. Oh and by the way German workers get 35 days of vacation AND decent healthcare.
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