Saturday, April 17, 2010

(CBS) The Dow Jones dropped 125 points Friday after news of fraud charges being levied against Goldman Sachs - the one bank that emerged relatively unscathed from the housing crisis.

The Securities and Exchange Commission said the Wall Street giant made huge profits by selling mortgage investments - collateralized debt obligations, or CDOs - that they knew would fail.

Within an hour, Goldman Sachs' stock plunged 13%, the biggest one-day drop in company history.

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