The Food Bubble: How Wall Street Starved Millions and Got Away With It
While Goldman Sachs agreed to pay $550 million to resolve a civil fraud
lawsuit filed by the SEC, Goldman has not been held accountable for many
of its other questionable investment practices. A new article in
Harper’s Magazine examines the role Goldman played in the food crisis of
2008 when the ranks of the world’s hungry increased by 250 million.
Goldman Sachs Settles Civil Fraud Case for $550M—Less Than It Reportedly
Expected, and With No Admission of Criminal Wrongdoing
Goldman Sachs has agreed to pay $550 million to resolve a civil fraud
lawsuit over selling a mortgage investment that was established to fail.
While the SEC hailed the $550 million settlement as the largest in Wall
Street history, many outside analysts questioned why the government
didn’t demand more. Investors responded favorably as Goldman Sachs
shares jumped by five percent in late trading, adding far more to the
firm’s market value than the amount it will have to pay in the