The US Congress will debate new financial legislation this week, but the real action in financial reform started last Friday with the fraud lawsuit filed by the Securities and Exchange Commission against Goldman, Sachs & Co. That case opens the litigation floodgates for more suits based on subprime mortgage fraud, and smart investors know it. Goldman's market value fell $12bn during trading on Friday, more than 10 times the losses alleged in the case. Shares of other major banks, such as Bank of America, Citigroup and Morgan Stanley, lost more than 5 per cent. JPMorgan Chase was also hammered last week and announced a $2.3bn increase in its reserve for litigation expenses.
美國國會本周將就新的金融立法展開辯論，但真正的金融改革行動已于上周五開始：美國證交會(SEC)對高盛(Goldman Sachs)提起欺詐指控。此案將為更多涉及次貸欺詐的訴訟開啟閘門，聰明的投資者都知道這一點。在上周五交易中，高盛市值蒸發了120億美元，是欺詐案中投資者損失的10倍以上。美國銀行(Bank of America)、花旗集團(Citigroup)和摩根士丹利(Morgan Stanley)等其它大型銀行股價跌逾5%。摩根大通(JPMorgan Chase)上周也遭受沖擊，該公司宣布將訴訟支出準備金增加23億美元。