Black Says Goldman Sachs Suit to Give Rules Bill ‘Push’

William Black, a professor at the University of Missouri at Kansas City, talks with Bloomberg’s Lori Rothman about the impact of a U.S. Securities and Exchange lawsuit against Goldman Sachs Group Inc. on legislation overhauling the financial regulatory system. Goldman Sachs created and sold CDOs tied to subprime mortgages in early 2007, as the U.S. housing market faltered, without disclosing that hedge fund Paulson & Co. helped pick the underlying securities and bet against them, the SEC said in a statement today.

Source: Bloomberg

Hat tip Howard G

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