Britain Joins Germany in Reviewing Legal Action Against Goldman
Britain joined Germany in calling for a probe of Goldman Sachs Group Inc. after the U.S. Securities and Exchange Commission said it was suing the company for fraud. U.K. Prime Minister Gordon Brown said he wants the Financial Services Authority open an inquiry, declaring he was “shocked” at “moral bankruptcy” indicated in the suit. The German financial regulator, Bafin, asked the SEC for details on the suit, a spokesman for Chancellor Angela Merkel said. “This is probably one of the worst cases we’ve seen,” Brown said on the BBC’s Andrew Marr program in London today. “It looks as if people were misled about what happened. The banks are still an issue. They are a risk to the economy.” AWIP: Germany Reviews Legal Action Against Goldman After Fraud Case.