BANKING: Former Goldman CEO charged with insider trading
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The Securities and Exchange Commission charged the former director of Goldman Sachs and Procter & Gamble with insider trading Tuesday, claiming Rajat Gupta illegally informed a hedge fund manager associate about the quarterly earnings for both firms. Source: Business news, technology, media and finance reports
U.S. Bank Credit Risk Climbs After Goldman Sachs Loss Exceeds Estimates:
Credit-default swaps on U.S. Banks climbed on concern that the slowing economy was weighing on financial institutions' balance sheets after Goldman Sachs Group Inc. (GS) reported its second quarterly loss in 12 years. Ref. Source 5
UK: Goldman Sachs 'escapes paying £10million bill in sweetheart deal with the taxman':
Dave Hartnett was accused of being 'cavalier' with taxpayers money after he admitted to MPs that he had not sought legal advice before agreeing to the controversial 'sweetheart' deal. Ref. Source 4
A jury has found former Goldman Sachs trader Fabrice Tourre liable in a mortgage securities fraud case. Ref. USAToday