Goldman Sachs (GS): Former Regulator Explains What`s Ahead

William Black, a professor at the University of Missouri at Kansas City, talks with Bloomberg's Lori Rothman about the impact of a U.S. Securities and Exchange lawsuit against Goldman Sachs Group Inc. (GS) on legislation overhauling the financial regulatory system. Goldman Sachs created and sold CDOs tied to subprime mortgages in early 2007, as the U.S. housing market faltered, without disclosing that hedge fund Paulson & Co. helped pick the underlying securities and bet against them, the SEC said in a statement today.

Related Stocks and ETF`s: Goldman Sachs Group, Inc. (Public, NYSE:GS), Bank of America Corporation (Public, NYSE:BAC), Fannie Mae (Public, NYSE:FNM), Morgan Stanley (Public, NYSE:MS), Financial Select Sector SPDR (ETF) (Public, NYSE:XLF)