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Earlier this week, Goldman Sachs announced US$3.5bn in net earnings for the first quarter of 2010. Normally, a 91% rise in profits from the previous year would be cause for celebration. But given the sensational announcement a few days earlier that the Securities and Exchange Commission was launching fraud charges against the bank, Goldman’s stellar quarter did little to help its case.
If the regulator’s action is only the first salvo in a wider campaign, what other banks could face similar charges?
Read more at Financial Services Briefing: “Widening the net” (April 21st)