Goldman said close to $2-3bn bond settlement

Goldman Sachs Still

Goldman Sachs is in talks to pay $2bn to $3bn to settle a probe into its sales of mortgage bonds leading up to the financial crisis, according to a person with direct knowledge of the situation.

Bloomberg News reports that the investment bank could reach a deal with the U.S. Justice Department within weeks, the person said, asking not to be identified because the negotiations aren’t public.

The accord is part of a broader push by the government to hold more Wall Street firms to account for the 2008 crisis after authorities pressed the three biggest U.S. banks - JPMorgan, Bank of America and Citigroup - to pay a total of more than $35bn in cash and consumer relief.

Morgan Stanley said in February it agreed to pay $2.6bn to end probes into its creation and sale of mortgage-backed securities. The firm has yet to complete the deal.

To access the complete Bloomberg News article hit the link below

Goldman Said to Near U.S. Settlement Exceeding $2 Billion

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