Alex Field : Goldman Sachs Settlement : ABC News
Alex Field, Michel and Mary Orradre Professor of Economics, appeared in an ABC news story on the money that Bay Area schools lost over investment banks’ risky mortgages that caused the financial crisis of 2008.
An excerpt from the piece:
Goldman Sachs agreed to a $5 billion settlement, which Santa Clara University Economics Prof. Alexander Field put in perspective. "It looked like for net earnings for 2015 were $34 billion. As far as I can see, the after-tax impact of this is about $1.5 billion, so you know it's certainly not trivial, but it's not a whole lot relative to overall net earnings."
Field said he knows that no individual at Goldman Sachs has been subject to criminal charges.
Find the full article here»
Learn more about Professor Alex Field»