SEC drops probe into Goldman Sachs' role in selling subprime mortgage securities

The New York Post reports:

The Securities and Exchange Commission has dropped an investigation into Goldman Sachs Group Inc's role in selling $1.3 billion worth of subprime mortgage securities, the investment bank said in a regulatory filing on Thursday.

In February Goldman received a so-called Wells notice from SEC staff related to disclosures in the deal's offering documents. Such notices typically indicate the agency plans to take some kind of enforcement action, and give firms a chance to respond.

On Monday, the SEC notified Goldman that the investigation had been closed and that it did not intend to recommend any enforcement action against the bank related to the offering, Goldman said in its quarterly 10-Q filing with the SEC.

Does Eric Holder like Goldman Sachs as much as Chicago Mob Boss John "No Nose" DiFronzo? Those 2008 Obama campaign donations sure paid off!