ShortFormBlogGoldman Sachs e-mails: Yeah, we bet against mortgages

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Of course we didn’t dodge the mortgage mess. We lost money, then made more than we lost because of shorts.
Goldman Sachs CEO Lloyd C. Blankfein • In an e-mail regarding its role in the mortgage crisis. The e-mail, one of many released by the Senate Permanent Subcommittee on Investigations, suggests that the company was betting against the failing housing market and profiting significantly from it – one of the main claims of the SEC’s lawsuit against the investment firm. This could be bad news for Goldman Sachs. source

Posted by Ernie Smith • Permalink

Posted on April 24, 2010 | tags