Goldman Sachs Reports $3.5 Billion Profit
(CNNMoney.com) — Goldman Sachs reported profits of $3.5 billion Tuesday, delivering a much-needed shot to the firm’s ailing reputation as it faces questions over its role in structuring a security tied to subprime mortgages.
Last week, the Securities and Exchange Commission charged Goldman with defrauding investors in a sale of a so-called collateralized debt obligation, or CDO. Investors in the security ultimately lost $1 billion.
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