SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Liberalism: Do You Agree We've Had Enough of It?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: lorne who wrote (82718)4/17/2010 1:07:30 AM
From: MJ  Read Replies (2) of 224724
 
As I understand Goldman was profiting in two ways, on the mortgages and then also on the bundling they did of mortgages.

While the SEC is focusing on the investors who bought the bundled mortgages and their losses, the losers in this are also the people who were sucked into the subprime mortgages. Some blame the homeowners for 'being greedy'; however, I don't buy that argument.

Homeowners were sold a bill of goods by Mortgage Middle Men who took thousands of dollars from homeowners without revealing how they would then resell their loans to such companies as WAMU, now in bankruptcy---or eventually how a hedge fund could be the holder of their mortgage through the bundling that companies such as Goldman appears to have done.

Goldman is the focus now; however, this story is not finished imho.

mj
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News