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Goldman Sachs Forced To Pay Up Over Mortgage-Backed Securities

The Justice Department announced today that Goldman Sachs will pay $5 billion to settle probes into the sale of mortgage-backed securities in the lead-up to the 2008 financial crisis. Goldman Sachs had disclosed the deal in January, but today’s official announcement includes further details of the agreement.

This is the fifth multibillion-dollar settlement reached with a major bank in the wake of the financial crisis. Here & Now’s Peter O’Dowd speaks with Jill Schlesinger of CBS News about the investigations and settlements.

Guest

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Federal Reserve Board Chair Janet Yellen speaks during a news conference March 16, 2016 in Washington, DC. Yellen conducted a news conference and answered questions from members of the media after a Federal Open Market Committee meeting.  (Alex Wong/Getty Images)
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Federal Reserve Board Chair Janet Yellen speaks during a news conference March 16, 2016 in Washington, DC. Yellen conducted a news conference and answered questions from members of the media after a Federal Open Market Committee meeting. (Alex Wong/Getty Images)