Fiction is obliged to stick to possibilities. Truth isn't.

- Mark Twain

Good Thing the Government is Tight With Goldman

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. [Read/Watch]

The more you know, the more you wish you didn't.

posted at 00:47:11 on 11/02/09 by clearpolitics - Category: Economics - [Permalink]

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