Sorry Main Street, You Won’t See Much of Goldman Sachs’ $5B Fine

Goldman Sachs agreed to a $5.1 billion civil settlement to resolve federal and state investigations into its handling of mortgage-backed securities prior to the 2008 financial crisis. Ever since the crisis, authorities have been trying to hold banks accountable for allegedly misleading investors when selling mortgage-backed securities. Regulators have already won settlements from several large banks, including JPMorgan Chase, Bank of America and Citigroup. We look at the story on the Lip News with Jose Marcelino Ortiz and Jo Ankier.

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