4 replies to this topic

[Mtrader]

http://money.cnn.com...dex.htm?cnn=yes

[arbman]

GS sells the bad loans first, then profits from their demise, not only they proudly announce what they did now, but the Fed has to lower the rates and it will eventually come out of everybody's pockets too. Guess what! Who knows about this at the bottom? Of course the one who has a direct line to the Fed, the trading geniuses my @ss! A few months ago, there were reports that GS had the largest sub-prime exposure, now they are saying it wasn't the firm's money. Of course, they will profit on their short sales on their clients loss, what a shame! From the lending to the investment banking, the entire system is obviously predatory, manipulated and corrupt. GS is the biggest shame and fraud in the WS history, I must say I am so disgusted, I am sure you guys can humour me, this is worse, at least the Enron guys sold some oil and gas or something tangible, but these guys must be liable for what they did. You can not loose your clients money and make money for the company at the same time from the same position, this is outright unethical, if the little guys do this, they would revoke their brokerage license...

[SandStorm]

GS sells the bad loans first, then profits from their demise, not only they proudly announce what they did now, but the Fed has to lower the rates and it will eventually come out of everybody's pockets too. Guess what! Who knows about this at the bottom? Of course the one who has a direct line to the Fed, the trading geniuses my @ss! A few months ago, there were reports that GS had the largest sub-prime exposure, now they are saying it wasn't the firm's money. Of course, they will profit on their short sales on their clients loss, what a shame! From the lending to the investment banking, the entire system is obviously predatory, manipulated and corrupt. GS is the biggest shame and fraud in the WS history, I must say I am so disgusted, I am sure you guys can humour me, this is worse, at least the Enron guys sold some oil and gas or something tangible, but these guys must be liable for what they did. You can not loose your clients money and make money for the company at the same time from the same position, this is outright unethical, if the little guys do this, they would revoke their brokerage license...

I was wondering about this, too. Wondering how thier clients who lost money on subprime CDOs must have felt when they heard that GS actually made money shorting it. Goldman Crooks!!

[steve]

Goldman and other investment bankers have offloaded their sub-prime structured loans and MBS products to their banking affiliates so they do not have to use mark-to-market accounting. The loans on the books are marked at cost. On a mark-to-market basis, who knows what the real loss is? 2 billion, 10 billion ???

[Mtrader]

This sounds like market manipulation to me. HUGE SHORT and make a lot of money.