Sunday, April 18, 2010

U.K., Germany Consider Action Against Goldman Sachs

by Bill McBride on 4/18/2010 09:28:00 AM

From Reuters: UK's Brown wants investigation into Goldman Sachs (ht jb)

Prime Minister Gordon Brown said on Sunday he wanted Britain's financial watchdog to investigate U.S. bank Goldman Sachs ...

"I want a special investigation done into the entanglement of Goldman Sachs and the companies there with other banks and what happened," Brown told BBC television.

"There are hundreds of millions of pounds have been traded here and it looks as if people were misled about what happened. I want the Financial Services Authority (FSA) to investigate it immediately," he said.

"I know that the banks themselves will be considering legal action," Brown said, apparently referring to European banks that lost money ...
From Bloomberg: Germany to Review Possible Legal Steps Against Goldman: Wilhelm
Germany may take legal action against Goldman Sachs Group Inc., German government spokesman Ulrich Wilhelm said today by phone.
Piling on begins ...