Follow BeltwayBlips on Twitter
Blog Reactions
Democratic Underground Latest Breaking News: How Goldman secretly bet on the U.S. housing crash
The Agonist - thoughtful, global, timely: How Goldman secretly bet on the U.S. housing crash
Calculated Risk: Report on Goldman's Bets on the Housing Crash
Reactions
 |
How Goldman secretly bet on the U.S. housing crash: http://www.mcclatchydc.com/227/story/77791.html 11/24/2009 |
 |
Goldman and Sachs peddled 40 billion dollars + of risk before the crash - the evil bastards http://www.mcclatchydc.com/227/story/77791.html 11/20/2009 |
 |
#WTF "How Goldman secretly bet on the U.S. housing crash | McClatchy" ( http://bit.ly/2uqb2P ) #WTF 11/13/2009 |
How Goldman secretly bet on the U.S. housing crash
Democratic Underground Latest Breaking News —
... violated securities laws. "The Securities and Exchange Commission should be very interested in any financial company that secretly decides a financial product is a loser and then goes out and actively markets that product or very similar products to unsuspecting customers without disclosing its true opinion," said Laurence Kotlikoff, a Boston University economics professor who's proposed a massive overhaul of the nation's banks. "This is fraud and should be prosecuted." Read more: http://www.mcclatchydc.com/227/story/77791.html Great work, if you can get it. Fill a beer keg ...
How Goldman secretly bet on the U.S. housing crash
The Agonist - thoughtful, global, timely —
... McClatchy - 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 that it also was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Now, a five-month McClatchy investigation has found that Goldman's failure to disclose those secret bets may have violated securities laws. ...
Report on Goldman's Bets on the Housing Crash
Calculated Risk —
From Greg Gordon at McClatchy Newspapers: How Goldman secretly bet on the U.S. housing crash 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. ... A Goldman spokesman, Michael DuVally, said that the firm decided in December 2006 to reduce its mortgage risks and did so by selling off subprime-related securities and making myriad ...
I Should've Been an Investment Banker
Newshoggers.com —
... Really, there isn’t much more to do with this excellent piece of journalism (and how often do we get to say that these days?) from McClatchy than offer some excerpts and recommend you read the whole article. ...
Why No RICO Charges For Wall Street Executives?
ParaPundit —
Why No RICO Charges For Wall Street Executives? Okay, my subject title is rhetorical. Both the Democratic and Republican Parties are pretty much owned by special interests. But the question needs asking repeatedly.The McClatchy Newspapers chain is doing a series on illegal wrong-doings of Goldman and other Wall Street firms with the claim that these firms knew they were peddling junk as AAA securities. Goldman knew the crash was coming 2 years before it happened but misrepresented the quality of the mortgage-backed securities it was selling. Isn't this felonious behavior? ...
Midday Open Thread
Daily Kos —
... The first installment of McClatchy's promised investigative series into Goldman Sachs is out, and it's got a bombshell: Goldman was secretly betting against the securities it was selling to investors. ...
Golden Sacks may have violated securities laws, big time
Corrente —
McClatchy : 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. Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies. Only later did investors ...
goldman sachs bet on america failing
skippy the bush kangaroo —
... ...now, pension funds, insurance companies, labor unions and foreign financial institutions that bought those dicey mortgage securities are facing large losses, and a five-month mcclatchy investigation has found that goldman's failure to disclose that it made secret, exotic bets on an imminent housing crash may have violated securities laws.- mcclatchy ...
Goldman Sachs’ Stolen Umbrellas
The Moderate Voice —
... will “take some time” to repair, a key Wall Street player has managed to weather the storm at the expense of an unwary, drenched public.
“All men are equal,” E.M. Forster wrote a century ago, “all men, that is to say, who possess umbrellas.” An old saying puts it more tartly: “The rain falls equally on the just and the unjust, but more on the just because the unjust have stolen their umbrellas.”
According to the McClatchy Newspapers, Goldman Sachs spent years cornering the umbrella market:
In 2006 and 2007, ...
McClatchy News' Investigative Report on Goldman Sachs - Part 1
Blog For Arizona —
... McClatchy News has completed its five month investigation into Goldman Sachs and has begun publishing a series of reports beginning on Sunday. Part 1 is How Goldman secretly bet on the U.S. housing crash: ...
We apologize for the delay
The Sideshow —
... How Goldman secretly bet on the U.S. housing crash. (Wasn't the suspicion that he may have bet against his own team what kept Pete Rose out of the Hall of Fame?) ...
American voters to billionaires: Get lost!
Attytood —
... as"a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. Over the next 12 months, I think voters will grow even madder at any politician who smells like money. They'll be reading things like the current McClatchy takedown of Goldman Sachs and its role in the mortgage foreclosure crisis , and blood will boil. And in 2010 the electorate won't only take that out on actual billionaires but the mere millionaire politicians who enabled them -- Democrat or Republican. That's the lesson of 2009, and it's ...
The Democrats’ War Tax
Antiwar.com Original —
... its own fiat paper currency, mortgaging our children’s tomorrows to pay for the wars we fight today. This is a method Rep. Frank knows only too well, which is why he tried to scuttle antiwar Republican Ron Paul’s " Audit the Fed " bill, which would open up to public scrutiny the operations of the " private " banking cartel that makes our debt-driven system possible. It was the Federal Reserve that bailed out Barney’s friends over at Goldman Sachs and Bank of America – and certainly the War Machine is also ...
!['I'm Not Saying Your Mother's a Whore': How Fox News Censored Jon Stewart vs. Bill O'Reilly [How Things Work]](http://images.dailyradar.com/media/uploads/beltway/story_preview/2010/02/06/i_m_not_saying_your_mother_s_a_whore_how_fox_news.jpg){kind=small}
