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Politics : Politics for Pros- moderated
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To: goldworldnet who wrote (361807)4/28/2010 11:39:58 PM
From: skinowski4 Recommendations  Read Replies (3) of 793866
 
I hope I don't come off as a defender of GS - first, I'd refuse to do it for free (g/ng), and second, I'm not even a lawyer. However, the fact that GS guys were a little smarter and executed a little better doesn't make them criminals. Did they break any laws? If so, then go after them.

But it sounds to me like they were functioning within the law, within the existing set of rules of what is allowed and what is not. I'm not an expert, but I can't see anything intrinsically wrong with pooling mortgages and selling them as bonds. The real problem was with the standards used for origination of those mortgages -- which leads us to Fanny, Freddy and to the Federal government, which in fact created the infrastructure for riskless lending.... which they needed for their social engineering purposes.
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