I saw and posted a similar story a little while ago. It wasn't in the New York Times though... it was by the Washington correspondent for the company that owns the Miami Herald. It's actually worse than that even... a lot of those investments they were betting against were based on mortages that they owned indirectly, and there were some credible allegations that they were refusing any discussion of workouts with the homeowners in question, which seems like a conflict of interest if they were betting against the investments.
http://www.mcclatchydc.com/goldman/ On Mon, Dec 28, 2009 at 8:48 AM, Robert Munn <[email protected]> wrote: > > Did anyone catch the story in the NYT about how Goldman Sachs created these > CD packages and sold them to investors, and then short sold the same CDOs, > essentially betting that they investment vehicles they created and sold to > their clients would fail? Not only did they do that, but they kept most of > the hedge investments to themselves and did not share them with clients. I > don't have the NYT article link offhand, I'll post it if I find it. > > It sounds to me like the tactics of a two-bit shyster. It is totally > unethical and should be illegal. I could see major lawsuits based on > Goldman's fiduciary duty to their clients. > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:309805 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
