Interesting story on Goldman Sachs. It basically says that they were shorting CDOs (collateralized debt obligations that rebundle poorly rated MBS (mortgage backed securities) tranches) and taking bets that housing would fall while still pumping ordinary MBS and CDO assets to ordinary investors.
This company is too big, too powerful, and too connected for our own good. Obama, empty suit that he is, would rather toy around with GITMO and Professor Gates than address this thornier problem. Perhaps we can have a class action lawsuit with the class made up of every homeowner who lost money on a housing sale in the last 12 months. We can add Ben Bernanke as a defendant too. That could be quite a judgment! Goldman would probably lose 10% year over year.
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Goldman Sachs Doing Their God’s Work:
http://www.youtube.com/watch?v=b5djoibYRn8
The Jews did it:
That video is completely incoherent. Goldman still sucks, though.