May 11, 2009
Coakley Reaches $60M Settlement With Goldman Sachs
By Matthew L. Brown
Investment bank Goldman Sachs has agreed to a $60 million settlement with state Attorney General Martha Coakley's office in connection with the bank's role in the securitization of subprime mortgages in the state.
Coakley's office said Goldman will pay $50 million in relief payments to homeowners and will pay the state $10 million. Coakley is scheduled to hold a press conference about the settlement today at 1 p.m.
The settlement is part of an ongoing investigation by Coakley's office into the origination and securitization of subprime home loans.
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