Post by aztecwin on Apr 25, 2010 14:41:07 GMT -8
starturl.com/yuumq
This is both interesting and disturbing. There is a whole lot more to this than is laid out in this article. The Salient point is that GS may have designed the derivatives to fail, sold the products to their customers and then shorted the issue. If true, this is worse or at least as bad as Bernie Madolf.
More background can be thought about if you look at how Freddie Mac and Fannie Mae were set up to encourage the origination of the ideal products to allow this horrible event to play out. Congress and our banks just have to be smarter than this. They are not and that is why the likes of Barnie Franks should be sent home for good.
This is both interesting and disturbing. There is a whole lot more to this than is laid out in this article. The Salient point is that GS may have designed the derivatives to fail, sold the products to their customers and then shorted the issue. If true, this is worse or at least as bad as Bernie Madolf.
More background can be thought about if you look at how Freddie Mac and Fannie Mae were set up to encourage the origination of the ideal products to allow this horrible event to play out. Congress and our banks just have to be smarter than this. They are not and that is why the likes of Barnie Franks should be sent home for good.