E-mails show Goldman Sachs profited from mortgage crisis

[ZeitgeistObserver]

E-mails show Goldman Sachs profited from mortgage crisis


Washington — Reuters
Published on Saturday, Apr. 24, 2010 10:06AM EDT

Last updated on Saturday, Apr. 24, 2010 11:01AM EDT


Goldman Sachs Group Inc. officials discussed making “serious money” in 2007 off the subprime crisis as mortgages were starting to falter in rapid numbers, according to a collection of e-mails released by a Senate panel Saturday.

“Of course we didn’t dodge the mortgage mess. We lost money, then made more than we lost because of shorts,” Goldman Sachs chief executive Lloyd Blankfein said in an e-mail dating from November, 2007.

“Sounds like we will make some serious money,” Goldman Sachs executive Donald Mullen said in a separate series of e-mails from October, 2007, about the performance of deteriorating second-lien positions in a collateralized debt obligation, or CDO.

http://www.theglobeandmail.com/report-on-business/e-mails-show-goldman-sachs-profited-from-mortgage-crisis/article1545607/

[Kalun D]

1. Like Cenk Says on TYT

of cooouuurrsseeee.

Of course Goldman profited on the mortgage crisis, THEY HELPED CREATE IT, so they could see it coming a mile away.