Fraud

Federal regulators charged the Wall Street megabank Goldman Sachs with civil fraud Friday. The Securities and Exchange Commission announced the charges in connection with subprime mortgage securities. Within minutes of the charges being announced, Goldman Sachs' shares fell more than 10 percent.

As financial powerhouse Goldman Sachs posted its then biggest quarterly profit ever in it 140-year history last summer, just a few months after receiving federal bailout money, lots of people wondered "how'd they do that? "

Matt Taibbi, wrote about Goldman Sachs in Rolling Stone. He accused the firm of engineering every major market manipulation since the Great Depression, and warns they'll do it again.

Audio: BBC, PRI & WBUR's Here & Now, 7/15/09, Host: Robin Young. Illustration by Victor Juhasz

See more at Bill Moyers Journal for 4/16/10.

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