Breaking News: SEC charges Goldman Sachs with securities fraud

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***USATODAY.com Breaking News***

WASHINGTON (AP) - The federal government is accusing Wall Street powerhouse Goldman Sachs & Co. of defrauding investors in its disclosures about securities it sold that were tied to subprime mortgages as the housing market was faltering. The Securities and Exchange Commission announced Friday civil fraud charges against Goldman Sachs and one of its vice presidents. The agency alleges that the company marketed complex subprime mortgage securities and failed to disclose to investors that a major hedge fund had bet against the securities.

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