Sunday, April 25, 2010

E-mails show Goldman boasting as meltdown unfolds

SHOOT: Hopefully we'll see Goldman go down because of this. The public are obviously rubbing their hands in glee that this greedy monster is seeing its come-uppance in court.
clipped from

The documents suggest that Goldman benefited at least for a time from bets that subprime mortgage-backed securities would lose value. The e-mails appear to contradict previous statements by the investment bank that it lost money on such securities.

"Of course we didn't dodge the mortgage mess," CEO Lloyd Blankfein wrote in an e-mail dated Nov. 18, 2007, according to the documents released Saturday morning. "We lost money, then made more than we lost because of shorts."

Chart for Goldman Sachs Group, Inc. (The)
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