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