How Goldman secretly bet on the U.S. housing crash

[sandwind]

They knew what was coming.

"In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting."

http://www.mcclatchydc.com/227/story/77791.html

[Slimprofits]

Re: How Goldman secretly bet on the U.S. housing crash

nothing to see here, move along.

[pwcmba]

Re: How Goldman secretly bet on the U.S. housing crash

Which of the developed nations is least touched by Goldman? I am trying to form a short list of countries to flee to soon.

[metalman]

Re: How Goldman secretly bet on the U.S. housing crash

Which of the developed nations is least touched by Goldman? I am trying to form a short list of countries to flee to soon.

goldman is the new whipping boy.

i'm curious to know who's next?

anyone but those who are really to blame.

[Ghent12]

Re: How Goldman secretly bet on the U.S. housing crash

goldman is the new whipping boy.

i'm curious to know who's next?

anyone but those who are really to blame.

C'mon now, that's not very cynically of you

I feel no love lost for profiteers of this war.

[Spartacus]

Re: How Goldman secretly bet on the U.S. housing crash

IIRC, the bad boy that everyone loved to hate used to be Salomon Bros. back in the day

Til Weill consumed them, bog-like, then neutered them.

goldman is the new whipping boy.

i'm curious to know who's next?

anyone but those who are really to blame.

[halcyon]

Re: How Goldman secretly bet on the U.S. housing crash

anyone but those who are really to blame.

Aren't we all to blame?

- Fed for too lax monetary policy and "no bubble" arguments
- government for spending like no tomorrow and bailing out dead-beats
- bankers for leveraging on other's expense
- people for getting up to neck deep in debt thinking house prices will go up forever and voting for the bail-out-politicians
- Chinese for pegging their currency, vendor-financing for far too long and helping the imbalance
- media for cheer-leading it all
- a big bunch of economists saying it was all fundamentally sound and ok

Who did we forget?

I think almost all groups are to blame. Some individuals perhaps not, but all groups yes.

The point is that some benefited from all this, while the majority didn't.

Isn't it fair that part of this outrage is targeted at those, esp. if they were bailed out at the expense of others and if the system isn't fixed to counter this kind of action in the future.

Who should we blame except them and the politicians who make it possible to continue this game?

Just curious.

[blazespinnaker]

Re: How Goldman secretly bet on the U.S. housing crash

Which of the developed nations is least touched by Goldman? I am trying to form a short list of countries to flee to soon.

Not canada, our BOC Chairman is ex goldman sachs.

[blazespinnaker]

Re: How Goldman secretly bet on the U.S. housing crash

goldman is the new whipping boy.

i'm curious to know who's next?

anyone but those who are really to blame.

Yeah those jews make great scapegoats.

[Rajiv]

Re: How Goldman secretly bet on the U.S. housing crash

Four videos on Goldman and Housing Bets


Goldman taking away people's homes

The Beckers fell months behind on their mortgage and finally found it was Goldman after their house

[MEDIA]http://videos.therealnews.com/gordoninv1030pt2_med.mp4[/MEDIA]

The Beckers tell their story

The Beckers tell of their years long struggle to save their house

[MEDIA]http://videos.therealnews.com/gordon1029sidebar_med.mp4[/MEDIA]

Goldman Sach's Secret Bets

McClatchy's Greg Gordon reports that Goldman knew that mortgages were not being properly reviewed

[MEDIA]http://videos.therealnews.com/gordon1029_med.mp4[/MEDIA]

How Goldman secretly bet on the U.S. housing crash

Goldman didn’t tell buyers of $40 billion in securities it was secretly betting the other way

[MEDIA]http://videos.therealnews.com/gordoninv1030pt1_med.mp4[/MEDIA]

[Slimprofits]

Re: How Goldman secretly bet on the U.S. housing crash

goldman is the new whipping boy.

i'm curious to know who's next?

anyone but those who are really to blame.

Yes I know we're all sick of hearing about Goldman, but the house has yet to be cleaned.

You can't just wish them out of government Metalman.

[pwcmba]

Re: How Goldman secretly bet on the U.S. housing crash

Right - I took Canada off my list some time back. 3 reasons for removing from the list:

GS banker running the central bank
Central bank sold gold reserves to hold US treasuries
Proximity - too close to the USA.