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Subprime Loan Meltdown: Goldman Bet It Both Ways

Posted on November 2nd, 2009 8:00am by Candy Evans
Filed under Changing market trends in Real Estate, Real Estate, urban living

Must read/see, this report by McClatchy Newspapers’ Greg Gordon, a five-month investigative report on how Goldman Sachs, otherwise known as Government Sachs, peddled more than $40 billion in securities on 200,000 risky home mortgages, but at the same time it was peddling these as investments, the company also bought $20 billion in insurance betting that the real estate market would tank. Did the customers know that? One of the insurers was AIG, the huge insurer the government bailed out. How AC/DC of them.

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