Goldman says it will pay $5.1 billion in US mortgage probe
US government pushes to hold Wall Street firms to account for mortgage bonds
Goldman Sachs Group said it agreed to settle a US probe into its handling of mortgage-backed securities for about $5.1 billion, cutting its fourth-quarter profit by about $1.5 billion and closing out a year of record legal and litigation costs.
The proposed deal would be the latest multibillion-dollar settlement resulting from the government’s push to hold Wall Street firms to account for creating and selling subprime mortgage bonds that helped spur the 2008 ...
