Goldman Sachs Pleads Guilty — Shareholders Pay $5bn to Keep Bankers out of Prison

On Monday, the U.S. Department of Justice announced that Goldman Sachs has agreed to plead guilty again and will pay $5.06 billion for its role in the 2008 financial crisis. The settlement, over the sale of mortgage-backed securities from 2005 to 2007, was first announced in January. Of course, none of the bankers will ever go to prison and the shareholders pay to protect the individuals who actually act in a criminal manner. This is really fraud upon the shareholders who have to pay fines to keep the bankers out of prison.

Posted Apr 12, 2016 by Martin Armstrong