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naked capitalism: “How Goldman secretly bet on the U.S. housing crash” (AIG as Bagholder Watch)
Calculated Risk: Report on Goldman's Bets on the Housing Crash
The Mess That Greenspan Made: It's good to be Goldman - Part 64
Reactions
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Goldman and Sachs peddled 40 billion dollars + of risk before the crash - the evil bastards http://www.mcclatchydc.com/227/story/77791.html 44 hours ago |
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#WTF "How Goldman secretly bet on the U.S. housing crash | McClatchy" ( http://bit.ly/2uqb2P ) #WTF 8 days ago |
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RT @theCSRfeed: Gold Sach CEO Blankfein's New Defense Of GS Bonuses: We're Better Than You http://bit.ly/2OjNwh OR, see http://bit.ly/mmLwB 10 days ago |
“How Goldman secretly bet on the U.S. housing crash” (AIG as Bagholder Watch)
naked capitalism —
... paper repaid? You got it – the 2005/2006 CDOs. CDOs have reinvestment periods (4 yrs for SF CDO) whereby they have to continue to be fully invested rather than letting their liabilities get repaid. The liability buyers don’t want their valuable paper to be repaid early – or, do they????
Readers who know the terrain, and Abacus and Start in particularly, are very much encouraged to comment or ping me at yves@nakedcapitalism.com.
Now to McClatchy:
McClatchy’s inquiry found that Goldman Sachs: ...
Report on Goldman's Bets on the Housing Crash
Calculated Risk —
From Greg Gordon at McClatchy Newspapers: How Goldman secretly bet on the U.S. housing crash 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. ... A Goldman spokesman, Michael DuVally, said that the firm decided in December 2006 to reduce its mortgage risks and did so by selling off subprime-related securities and making myriad ...
It's good to be Goldman - Part 64
The Mess That Greenspan Made —
McClatchey has a damning investigative report out on the dealings of Goldman Sachs a few years ago, back when the housing and credit bubbles were reaching their maximum point of inflation. It should further endear the Wall Street firm to the American public. ...
Is the DC Media "Getting It" (Finally)?
The Market Ticker —
... Hmmm.... maybe late, but not never!
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 value of those securities plummeting.
Right. On October 31st of 2007 I said:
Realize this folks - some of these "boys" on Wall Street have gone so far with their hubris that ...
Monday morning links
The Mess That Greenspan Made —
... expansion - Reuters It is Japan we should be worrying about, not America - Telegraph More quantitative easing is on the way – and that's a good thing - Telegraph China Warns of World Slump If Stimulus Withdrawn - Bloomberg A U.K. property is repossessed every 11 minutes - Telegraph U.K. house prices rise 0.2% in October - MarketWatch REAL ESTATE 13 spooky trends that haunt real estate - O.C. Register How Goldman secretly bet on the U.S. housing crash - McClatchey Foreclosures Growing in ...
VIDEO: How Goldman secretly bet on the U.S. housing crash
The Big Picture —
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Source:
How Goldman secretly bet on the U.S. housing crash
Greg Gordon
McClatchy Newspapers, November 1, 2009
http://www.mcclatchydc.com/227/story/77791.html
...
How Goldman Bet on a Housing Crash
The Big Picture —
... -->
Sunday: High-yield promises, secret contrary bets
Monday: Take borrowers to court, then take their homes
Tuesday: Big losses, little recourse for overseas investors
Wednesday: Blue-chip prestige flirts with subprime disaster
I’ll update this as more stories come out.
>
Source:
How Goldman secretly bet on the U.S. housing crash
Greg Gordon
McClatchy Newspapers, ...
Guest Post: Wall Street Journal Admits Economists Were Wrong, But Fails to Discuss their INCENTIVE for Being Wrong
naked capitalism —
... , and they will be able to buy up competitors for cheap and consolidate power. They may also bet against the same products they are selling during the boom (more ...
Weekend Linky Dinks
UpsideTrader —
... Have a great weekend and enjoy the links. The billion dollar airbag. The buy and hold song. Pick your letter and make your bet. The Goldman boys. Gotta raise? Your job was saved . Galleon was more transparent. Cohan on Larry Summers Maheras, who helped blow up Citi starts a fund, why not? Pandit wrote the “How To” on the process. How Israel destroyed Syria’s reactor with Operation Orchard . How Goldman secretly bet on housing crash . Roubini says Rogers is full of it. Will Goldman get shot over ...
