FT: Brown piles onto Goldmans - Spear's Magazine

FT: Brown piles onto Goldmans

British premier Gordon Brown attacked the “moral bankruptcy” of Goldman Sachs on Sunday after the US Securities and Exchange Commission accused the world’s most famous bank of fraud.

British premier Gordon Brown attacked the “moral bankruptcy” of Goldman Sachs on Sunday after the US Securities and Exchange Commission accused the world’s most famous bank of fraud.

His comments came as it emerged that Goldman and the SEC had not discussed a settlement prior to the announcement of charges last week, and as documents emerged revealing the strained relationship between the bank and the regulator during the 20-month probe.

In a submission to the SEC in September 2009, Goldman said the regulator’s case had “fatal deficiencies” and no basis “in law … or common sense”.

The SEC declined to comment.

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