OMG Goldman Sachs charged with Fraud !
16 April 2010, 04:17 PM
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OMG Goldman Sachs charged with Fraud !
"The Commission brings this securities fraud action against Goldman, Sachs & Co. ("GS&Co") and a GS&Co employee, Fabrice Tourre ("Tourre"), for making materially misleading statements and omissions in connection with a synthetic collateralized debt obligation ("CDO") GS&Co structured and marketed to investors. "
http://www.sec.gov/litigation/compla...-pr2010-59.pdf
tee hee
in leyman's terms, Goldmans organized structured credit derivatives with destined to fail Asset Backed securities and then traded short on them, knowing the probable outcome.
oo-ee - they've dropped 10% !
http://www.sec.gov/litigation/compla...-pr2010-59.pdf
tee hee
in leyman's terms, Goldmans organized structured credit derivatives with destined to fail Asset Backed securities and then traded short on them, knowing the probable outcome.
oo-ee - they've dropped 10% !
16 April 2010, 04:23 PM
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16 April 2010, 04:34 PM
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"As early as the summer of 2006, Goldman’s sales desk began marketing short bets using the ABX index to hedge funds like Paulson & Company, Magnetar and Soros Fund Management, which invests for the billionaire George Soros. John Paulson, the founder of Paulson & Company, also would later take some of the shorts from the Abacus deals, helping him profit when mortgage bonds collapsed. He declined to comment."
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18 April 2010, 05:18 PM
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And who advises Flash? None other than Gavin Davies who, apparently, made £150M as a Goldman Sachs partner. And this guy's wife was Flash's private secretary .... So, I guess there won't be much cooperation from the British government then .... ?
Dave
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18 April 2010, 07:39 PM
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