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Goldman settlement could reach US$5b

Sum much smaller than those paid by other firms for selling flawed mortgage securities

PENALISED: Goldman said the settlement would reduce Q4 earnings by approximately US$1.5b on an after-tax basis.

New York

MORE than seven years after the worst of the financial crisis, Goldman Sachs is again paying a price for the role it played.

The Wall Street firm said on Thursday that it had agreed to a US$5 billion civil settlement with federal prosecutors and regulators to resolve...