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.
美国国会本周将就新的金融立法展开辩论，但真正的金融改革行动已于上周五开始：美国证交会(SEC)对高盛(Goldman Sachs)提起欺诈指控。此案将为更多涉及次贷欺诈的诉讼开启闸门，聪明的投资者都知道这一点。在上周五交易中，高盛市值蒸发了120亿美元，是欺诈案中投资者损失的10倍以上。美国银行(Bank of America)、花旗集团(Citigroup)和摩根士丹利(Morgan Stanley)等其它大型银行股价跌逾5%。摩根大通(JPMorgan Chase)上周也遭受冲击，该公司宣布将诉讼支出准备金增加23亿美元。