Goldman Sachs Charged with Fraud

As the Senate belatedly prepared to debate financial industry reforms two years after Wall Street dragged the world economy into a recession, the Securities and Exchange Commission on Friday charged Goldman Sachs with fraud.  The civil lawsuit is one of the biggest moves by authorities in response to the financial crisis.  “While its action was slow in coming, I applaud the SEC  for finally beginning to deal with the illegal behavior of major Wall Street firms which, in my view, knowingly sold junk products and as a result helped cause the worst recession since the 1930s,” said Senator Bernie Sanders.