Abacus 2007-ACI, the deal at the centre of the case brought by the SEC against Goldman, could become as synonymous with the financial crisis as sub-prime, Lehman Brothers and Repo 105.
The case put against Goldman Sachs – still the world’s best-performing investment bank, as the $3.46 billion of profits generated in the first quarter of 2010 demonstrate – looks damning on paper.
Goldman makes a huge play of putting clients first. Most of its detractors counter that it puts the earnings of its business before anything else.
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