Tag: Mortgage Backed Securities

How And Why Goldman Sachs Defrauded Investors While Homeowners Went Broke

In this first video Greg Gordon of McClatchy News reports that Goldman knew that mortgages were not being properly reviewed



Real News Network – November 1, 2009

GOLDMAN SACHS’ SECRET BETS

McClatchy’s Greg Gordon reports that Goldman knew that mortgages were not being properly reviewed

Here Paul Jay interviews Gordon who explains that a five month McClatchy investigation has found that Goldman’s failure to disclose those secret bets may have violated securities laws – that 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 that it also was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.



Real News Network – November 1, 2009

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

Goldman didn’t tell buyers of $40 billion in securities it was secretly betting the other way