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Goldman Sachs closed the case of the ‘subprime’ paying 4600M

The investment bank Goldman Sachs managed yesterday to reach a preliminary agreement with the Department of Justice of United States and General prosecutors in New York and Illinois and paid millions of dollars a few-5060 4640 billion of euros-to save research and possible claims related to the mortgage marketing crap before the crisis.

This agreement will have a negative impact of approximately 1390 million euros on the results of the fourth quarter, as he detailed yesterday the Bank. Specifically, the Bank will pay a civil penalty by the value of 2190 million euros, paid in cash and will provide consumers with more 803 grants for a total value of 1647 million euros. Under the terms of the agreement, aid to consumers will be realized on investments for the construction and rehabilitation of housing, as well as debt restructuring and in the prevention of seizures.

“The principle of agreement will serve to close the current and potential civil claims from the United States Department of Justice, the prosecution¬†of New York and Illinois and federal banks in Chicago and Seattle in relation to securitisation, subscription and sale of securities backed by mortgages between 2005 and 2007,” said yesterday the organization in a statement. The president and ceo of the American Investment Bank, Lloyd Blankfein, expressed his “satisfaction” to have come to a preliminary agreement “to resolve these issues.”

This is not the first agreement of its kind between a giant of the financial sector and the Government of the United States. The Bank of America, for example, agreed to the year 2014 to pay a fine of 16500 million dollars for the sale of assets backed by mortgages of trash.