Pension fund ABP to sue Goldman Sachs over junk mortgages
Saturday 28 January 2012
Dutch civil service pension fund ABP is taking merchant bank Goldman Sachs to court for providing it with misleading information over the sale of junk mortgages, the Telegraaf reports on Saturday.
Before the economic crisis began, ABP invested in bonds which were coupled to American mortgages. But ABP claims it was wrongly informed about the credit-worthiness of the investment and the mortages were riskier than Goldman Sachs had said.
The pension fund, one of the biggest in the world, declined to say how much in damages it is seeking, the Telegraaf reported.
© DutchNews.nl
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Wednesday: Dry with sunny spells and rain towards evening. Max 8-10º. Similar Thursday
And this is the same Goldman Sacs that gave its CEO 100 Million dollar golden hanD SHAKE IN THE usa?? fOR SHAME fOR SHAME
By Howard de Barfield | January 30, 2012 4:31 PM