Analysis: Banks should say whether they received an FHFA subpoena

07/14/2010 | Wall Street Journal, The

Goldman Sachs decided in 2008 and 2009 not to disclose that it had received a Wells notice from the Securities and Exchange Commission and subpoenas regarding a deal on mortgage-backed bonds and derivatives. The market wiped out $12 billion from Goldman's value when the SEC filed a lawsuit against the firm, alleging fraud. Other banks should learn from Goldman's mistake and reveal whether the Federal Housing Finance Agency sent a subpoena related to mortgage-backed bonds, according to The Wall Street Journal.

View Full Article in:

Wall Street Journal, The

Published in Brief: