Financial firms take a hard look at their own CDOs

04/26/2010 | Financial Times (tiered subscription model)

The Securities and Exchange Commission's lawsuit accusing Goldman Sachs of fraud has the firm's competitors examining collateralized debt obligations they put together before the financial crisis. Goldman's rivals want to find out whether they could face the same accusations made against Goldman. "We're pulling out every CDO and triple-checking there was nothing wrong with it," the head of one investment bank said. "There'll be a lot more action from the SEC, you can be sure of that."

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