Palm Beach Post logo Palm Beach Post 1 month ago

Goldman Sachs bet on housing meltdown -- and won

Bought and converted into high-yield bonds tens of thousands of mortgages from subprime lenders that became the subjects of FBI investigations into whether they had misled borrowers or exaggerated applicants' incomes to justify making hefty... Full Article at Palm Beach Post

Related Topics:

  1. Goldman Sachs
  2. Securities and Exchange Commission
  3. Lloyd Blankfein

Related Articles

  1. Goldman Sachs bet on housing crash
    1 month ago

    WASHINGTON -- 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... Full Article at Anchorage Daily News

Related Quotes

  1. 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
    SOURCE: Anchorage Daily News 1 month ago
  2. It would look much more damaging ... if it appeared that the firm was dumping these investments because it saw them as toxic waste and virtually worthless.
    – John Coffee SOURCE: Anchorage Daily News 1 month ago
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Daylife is the web's largest archive of news photos

  1. Co-CEO of Goldman Sachs, Richard Gnodde listens during a Future of Finance Initiative conference in Horsham, southern England December 8, 2009.
  2. WASHINGTON - NOVEMBER 16: Activists protest in front of the DC office of Goldman Sachs November 16, 2009 in Washington, DC.
  3. LONDON, ENGLAND - OCTOBER 15: Goldman Sachs building in Paternoster Square is bathed in Autumnal sunshine on October 15, 2009 in London, England. Investment Bankers Goldman Sachs have announced quarterly profits of £1.96 billion.
  4. ISTANBUL, TURKEY - OCTOBER 3: In this handout image supplied by the IMF, the BBC's Nik Gowing hosts a live 'Special World Debate' with panelists Economic Historian Niall Ferguson, French Finance Minister Christine Lagarde, Goldman Sachs Jim O'Neill, International Monetary Fund's Managing Directo...
  5. NEW YORK - SEPTEMBER 23: Lloyd Blankfein, Chairman and CEO of The Goldman Sachs Group, participates in a panel on September 23, 2009 at the Clinton Global Initiative (CGI) in New York, New York.
  6. A staff attends to a customer at a branch of CIMB Bank in Kuala Lumpur December 8, 2009. The success of Malaysia's CIMB Group to win the biggest deals in Southeast Asia could stutter over its lack of a global network, which may see it collaborating with Wall Street banks rather than take them on.
  7. NEW YORK - NOVEMBER 30: Photos are displayed during the FOEDUS USA Foundation's A Journey to La Dolce Vita at The Setai Wall Street on November 30, 2009 in New York City.
  8. NEW YORK - NOVEMBER 30: Actors Brooke Shields, Anthony Mackie, Jeremy Renner and Brian Geraghty pose backstage at IFP's 19th Annual Gotham Independent Film Awards at Cipriani, Wall Street on November 30, 2009 in New York City.
  9. NEW YORK - NOVEMBER 30: Directors Donal Mosher and Michael Palmieri attend IFP's 19th Annual Gotham Independent Film Awards at Cipriani, Wall Street on November 30, 2009 in New York City.

Cast of Characters

  1. Goldman Sachs Goldman Sachs
  2. Securities and Exchange Commission Securities and Exchange Commission
  3. Lloyd Blankfein Lloyd Blankfein
  4. Columbia University Columbia University
  5. John Coffee
  6. NYSE NYSE