Tuesday, December 29, 2009

Examining Goldman Sachs

Check out this clip at McClatchy on Goldman's moves on the sub prime mortgage crisis.

Goldman was in the center of causing the crisis, but also got out just prior to the recession. They then went on to make money betting that the mortgages would fail.

How does that happen?

Goldman Sachs' secret bets
McClatchy's Greg Gordon details how Wall Street colossus Goldman Sachs sold billions of dollars worth of risky bonds, while secretly betting that the housing market would drop and send the values plummeting.

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