Goldman Settles With UK Regulator Over Abacus Deal

Goldman Sachs GS has reached a settlement with UK regulators over the controversial sale of mortgage debt that had already landed the firm in hot water with U.S authorities, FOX Business has learned People inside Goldman expect the FSA to levy a significant fine against the firm over its sale of mortgage-backed debt in 2007 to investors who were unaware that the deal was cobbled together by short seller John Paulson. Although the exact amount of the fine is not known, people inside Goldman expect it to be far less than the $550 million the firm shelled out to the SEC in July to settle the case, possibly as little as $30 million. To read the rest, head over to FOX Business.