Fannie Mae-No Politics (FNMA)

[FOFreddie]

They paid $ 550 million to the SEC and others and the GS stock dropped. The plaintiffs are trying to get a class action certified because GS claimed that they managed conflicts and acted in the best interest of their clients. You can see what ProPublica said and there are lots of SEC statements. The core was the fact that they allegedly stuffed clients with MBS securities that they shorted proprietarily. The ABACUS deal happened after Hank left but may have been in the works when Hank or Steel were still with the firm. Hard to believe that Hank was surprised by the mortgage meltdown like he said in the Netflix documentary.

https://www.propublica.org/article/what-the-goldman-sachs-settlement-means-in-context