FSA confirms unprecedented probe into Goldman Sachs

Reports at the weekend linked the UK regulator to a probe into Goldman's banking practices currently underway at the Securities and Exchange Commission (SEC) across the Atlantic. In a short statement today, the FSA confirmed it is also beginning its own enquiry into the bank's involvement in alleged fraud relating to the £650m of the toxic sub-prime deals which have been blamed for the global economic meltdown. A spokesman hinted at the enormity of the impending task, saying, "there is no like for like in this situation". In its statement, the regulator says: "Following preliminary...