Paulson & Co. Inc. Responds to SEC Complaint Against Goldman Sachs
By Paulson Co. Inc., PRNEThursday, April 15, 2010
NEW YORK, April 16, 2010 - Paulson & Co. Inc. has the following statement in response to the SEC's
complaint against Goldman Sachs & Co. announced today:
As the SEC said at its press conference, Paulson is not the subject of
this complaint, made no misrepresentations and is not the subject of any
charges.
While Paulson purchased credit protection from Goldman Sachs on
securities issued under the ABACUS ABS CDO program, we were not involved in
the marketing of any ABACUS products to any third parties.
ACA as collateral manager had sole authority over the selection of all
collateral in the CDO, securities of which were subsequently rated AAA by
both S&P and Moody's.
Paulson did not sponsor or initiate Goldman's ABACUS program, which
involved at least 20 transactions other than that described in the SEC's
complaint.
Thomas Walek, Walek & Associates, +1-212-590-0531, TWalek at walek.com
Tags: April 16, England, Goldman sachs, New York, Paulson & Co. Inc.