Tuesday, April 20, 2010

Why just GS? They were all at it.

Goldman Sachs' bloody nose

All the Wall Street i-banks exacerbated the housing bubble and subsequent bust by deliberately packaging the most toxic mortgages into certain CDOs and then making big money by shorting them. If anything, the other banks were worse than GS. So why is Obama going after GS? Because he'll garner populist support by giving them a bloody nose? Will it enable him to get an ineffective reform bill through and leave intact most of the rotten system?

Posted by icarus @ 03:55 PM (997 views)
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