Goldman probe heralds SEC clamp-down

The SEC's probe into Goldman Sachs could be the first salvo in an attempt by the agency to rescue its reputation after being humiliated by Madoff, Stanford and the financial crisis. Our latest poll shows FinanceAsia readers believe more charges will follow.

The US Securities and Exchange Commission's charges against Goldman Sachs could be a sign that the agency is turning up the heat on Wall Street, according to respondents to our web poll last week.

When asked if the action against Goldman was the start of a wave of charges against banks, our readers at first seemed divided on the question but later voted strongly in agreement. Almost three-quarters answered Yes, suggesting that they expect Goldman will not be the only bank brought to heel over the way it marketed products in the run up to the financial crisis.

The securities regulator is accusing Goldman of fraudulently selling a subprime product known as Abacus. It says...

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