McClatchy: How Goldman secretly bet on the U.S. housing crash

http://www.mcclatchydc.com/227/story/77791.html

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.

NOTE: Because McClatchy does not use an easily sharable video service such as YouTube, I have uploaded their video here in order to drive traffic to their story, because it's an important one.

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[basiliskDOM]

Goldman Sachs are constantly manipulating world markets. Thank goodness the public are becoming more aware of this fact.

Tragically for those individuals who only wished for a slice of the American dream have been failed by those who see them as something to exploit.

Goldman's CEO believes he is doing Gods work. Goldman is a vehicle of the anti Christ.

[mac000111]

anyone notice that the gov't runs like the mob. Legal loan sharks and legal extortionists. They will come and take everything if you don't follow their rules. But the rules don't apply to them.

[mac000111]

How much you want to bet that this won't make national news? Since Goldman Sachs is in bed with the FED i'm not surprised they had the clairvoyance to see the tumbling housing market before it actually happened.