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Goldman, Merrill E-Mails Show Naked Shorting, Filing Says
Bloomberg – Goldman Sachs Group Inc. (GS) and Merrill Lynch Co. employees discussed helping naked short-sales by market-maker clients in e-mails the banks sought to keep secret, including one in which a Merrill official told another to ignore compliance rules, Overstock.com Inc. (OSTK) said in a court filing. The online retailer accused Merrill, now part of Bank of America Corp., and Goldman Sachs of manipulating its stock from 2005 to 2007, causing its shares to fall. Read Article
Tags: banks, corruption, nature of corporations, North America
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