karennma
8,057 posts
msg #91303
- Ignore karennma |
4/16/2010 5:25:09 PM
If any of you read Matt Taibbi's expose' LAST YEAR, this is really old news ...
As IF!! We don't know GS is full of scumbags!
http://www.msnbc.msn.com/id/36603564/ns/msnbc_tv-the_dylan_ratigan_show/
|
dwiggains
448 posts
msg #91322
- Ignore dwiggains |
4/17/2010 9:32:01 AM
This is a interesting read on the same subject. Pretty long.
http://www.propublica.org/feature/all-the-magnetar-trade-how-one-hedge-fund-helped-keep-the-housing-bubble
Magnetar hedge fund only wanted the worst loans so it would fail and then collect insurance.
Legal ?
Moral ??????????????????????????????????
See ya
David
|
karennma
8,057 posts
msg #91325
- Ignore karennma |
4/17/2010 9:58:03 AM
There are two major players in this fiasco ....
Apparently, GS employee (google) Fabrice Tourre and and Hedge Fund manager John Paulson intentionally selected THE WORST mortgage bonds they could find, sold them as CDSes to other investment banks and then shorted them, knowing they were garbage.
|
karennma
8,057 posts
msg #91326
- Ignore karennma |
4/17/2010 10:10:04 AM
Ya' know what sucks about all this ...?
NO ONE will go to jail.
They'll be fined, and they will continue to do what they've been doing.
If your net worth is $12 BILLION, a $15 million $$ fine is a drop in the bucket.
(However, I sense the gov't will make Tourre the fall guy)
|
machismo
115 posts
msg #91329
- Ignore machismo |
4/17/2010 3:12:07 PM
If not GS then some other firm, If not John Paulson then someone else..that's just how it is.
|