GoldmanSaks Bet Against Euro Nations Who Were Also Clients

http://www.washingtonsblog.com/2011/07/goldman-bet-against-its-european.html

..."It is well-documented that big banks like Goldman Sachs made money by betting against investments which they themselves bundled and sold to their own clients, such as packages of subprime mortgage-related products such as collateralized debt obligations. This practice not only was illegal and unethical, but actually worsened the subprime crisis."...

..."Further, while Goldman Sachs was helping Greece hide its debt from the official statistics, it was also hedging its bets through buying insurance on Greek debt as well as using other derivatives trades to protect itself against a potential Greek default on its debt. So while Goldman Sachs engaged in long-term trades with Greek debt (meaning Greece would owe Goldman Sachs a great deal down the line), the firm simultaneously was betting against Greek debt in the short-term, profiting from the Greek debt crisis that it helped create."...

Andleave them there to scream?

They collapsed a PLANET but they're hale, hearty, unjailed?

:shrug:

and the only example we ever need for how badly needed strict financial regulations are.

indicted for fraud. The arrest warrants can be served at the next meeting of the White House economic advisers, you know, while they're all gathered in one location.

and I'm pretty sure that's what they've been calling it too.

They fucked the planet, that's for sure.

But why would anyone at Goldman Sachs go to jail for committing a crime? That's unAmerican!

bought by the Banking Cartel?



& thank you for the recc's

Time to eat the rich. I like mine crispy on the outside and pink in the middle.