How Did Goldman Sachs Know That The Housing Market Was About To Collapse?

[jiveturkeyusa]

It is clearly a case of Goldman Sachs withholding information they had about the product (mortgage backed securities with AAA ratings) they were selling to pension funds. Internal documents clearly show they knew they were selling crap to pension funds and they were even betting hugely against those products through credit default swaps. Goldman was betting against the housing market and didn't count on AIG defaulting LOL then we all got to see how private finance and government really works.

[theunbubba]

Goldman knew because they were watching what the fuck Senator Chuck Schumer was doing to bring down Indy Mac Bank and Washington Mutual. It was plain as day that the democrats crashed the economy to win the presidential election in 2008.

If you don't get that you need your fucking heads examined.

[jiveturkeyusa]

Were there more mortgage defaults in the 365 days before the bank bailout bill, or the 365 days after the bank bailout bill?

[theunbubba]

youtube.com/watch?v=LPSDnGMzId­o

[jiveturkeyusa]

What was the Goldman Bailout for again? The housing market is in worse shape than in 2008 and Goldman Sachs profits are a historic high. Oh yeah the former CEO of Goldman Sacvhs was Hank Paulson the Treasury Secretary. RICO; say RICO. anyone? Say RICO.

[123Thisizit]

Foreclosures are built into the system...Goldman Sacks are just the $nakes in the grass.

[vesnasvati]

Anyone "on the ground" reading and paying attention to the news knew that there were a lot of bad loans that were going sour way before Goldman started taking advantage of the situation.

[drkutubedrk]

what about this cover up

the cmkx sting operation

[arnoldyyuu]

the housing bubble started in early 2001. every firm knew about this. the crisis is a lot deeper than subprime mortgages. please do some research before you post garbage like this.

[WarzSchoolchild]

TREASON!

[theunbubba]

Goldman knew because they aren't a bunch of stupid lemmings like the people that pay attention to this garbage.

[jiveturkeyusa]

@theunbubba It didn't hurt to have Hank Paulson former CEO of Goldman Sachs in there as Treasury Secretary to help ram through an unconstitutional BAILOUT for Goldman and AIG. The AIG bailout was to cover Goldman Sach's credit default swaps. That money will never be paid back and SHOULD HAVE NEVER BEEN PAID. Who was in charge of TARP funds? Oh yeah, another former Goldman executive, Neel Kashkari. Is this a joke? Such blatant conflicts of interest and corruption. It is a disgrace.

[theunbubba]

@jiveturkeyusa

Oh blah blahblah........ Goldman Sachs knew not to follow the lemmings over the cliff. It's why they are who they are. Stop whining.

[jiveturkeyusa]

@theunbubba Why did they need to get bailed out? Sounds like they are a bunch of pussies that go looking for handouts from the American people. That is who they are. They are cowardly little weasels that need to use deception and corruption to make money.

[theunbubba]

@jiveturkeyusa Because AIG was not allowed to fail. If AIG had been allowed to fail then the hedges that Goldman bought would have paid out the 12.9 billion instead of the money paid them by AIG from it's share of the bailout. In the financial world you make sure of what you're buying in to if you're smart. Goldman isn't in the position it's in from being stupid.

[jiveturkeyusa]

@theunbubba A hedge against a mortgage backed security is a credit default swap. AIG was bought by the Treasury and Federal Reserve to cover the "hedges" that Goldman and others made through AIG. That is why it was such a corrupt deal for the American people. The tax payers were forced without consent to buy credit default swap obligations to pay Goldman Sachs, JP Morgan, and others. Goldman Sachs was betting against the housing market through AIG and when AIG failed they cried about it.

[RAMKING61]

Edward Liddy resigned from the Goldman Sachs Board of Directors on September 23, 2008, to become the CEO of AIG. The bailout bill passed Congress less than 2 weeks later! Liddy then decided to resign on May 21, 2009.

Talk about blatant, obnoxious, and devious scum!

[badattitude77769]

Dudes, respect you very much for standing up for the american way of life, both of you have those dark eyebrows, am geting so fucking anal cause the nazi bush familia crime sydicate, and those who lie, never worked for a living, the truly evil scumbags are fucking up eveythying that is good, have lots of gangsters on my side, they work for a living, vermin in suits are destroying our country, thank your for standing up my fellow Americans.