Goldman Sachs to pay $5bn for its role in the 2008 financial crisis

The settlement holds the bank accountable for its 'serious misconduct' in falsely assuring investors that securities it sold were backed by sound mortgages

Goldman Sachs will pay $5.06bn for its role in the 2008 financial crisis, the US Department of Justice said on Monday. The settlement, over the sale of mortgage-backed securities from 2005 to 2007, was first announced in January.

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