“A Rare Smoking Gun”: Judge Says Goldman And Four Other Firms “Blatantly Price Fixed” GSE-Backed Bonds


 

Fannie, Freddie, “GSE = Government Sponsored Enterprises.” So the taxpayers were allegedly wronged.

(From Zerohedge)

U. S. Southern District of New York Judge Jed S. Rakoff allowed the case to proceed against Goldman Sachs, Deutsche Bank Securities Inc., BNP Paribas Securities Corp., Morgan Stanley & Co., and Merrill Lynch.

The judge concluded that traders from these banks engaged in price fixing by using industry chatrooms, which exist primarily so that banks, dealers and co-underwriters can work together on a limited basis to find opening prices for bond issuances.

Reprinted from: https://www.ac2news.com/2019/09/a-rare-smoking-gun-judge-says-goldman-and-four-other-firms-blatantly-price-fixed-gse-backed-bonds/

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