chinaco
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Feb 14, 2007
- Messages
- 5,072
Looks like the the Investment Bankers are taking some heat.
IMO - They deserve all of the love the SEC and Justice Dept can give them. Wouldn't hurt if new regs broke them up or restricted their practices. They seem to be at the center of the meltdown.
SEC accuses Goldman Sachs of fraud in subprime mortgage meltdown - latimes.com
IMO - They deserve all of the love the SEC and Justice Dept can give them. Wouldn't hurt if new regs broke them up or restricted their practices. They seem to be at the center of the meltdown.
SEC accuses Goldman Sachs of fraud in subprime mortgage meltdown - latimes.com
The SEC's lawsuit alleges that Goldman did not tell investors in the securities that they were based on a portfolio of mortgage bonds selected by a hedge fund. The investment bank subsequently helped the hedge fund, Paulson & Co., place bets against the same bond portfolio, the suit says.
Paulson, which made a number of such bets, made billions of dollars as the subprime home-loan market collapsed in a wave of borrower defaults.