The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: NOW who wrote (244576)	4/17/2010 8:05:01 AM
From: carranza2	Read Replies (1) of 306849

how would he profit by taking gold down? He probably wouldn't, but we don't now. My point is that Paulson is also not to be trusted or lionized. To its credit, Bear Stearns appears to have passed on the scheme. I was very impressed by the piece in the NYT I linked to. It really did set out a factual basis for going after GS. I did not think the SEC would do so. naked capitalism has a copy of the GS Abacus presentation. I think they are screwed because nowhere is Paulson shown as being involved as a 'selection agent.' That role is solely ACA's. nakedcapitalism.com The important thing about this, IMO, is the chronology. Abacus was set up in February 2007, when anyone with half a brain [and undoubtedly GS] knew that the real estate market was ready to collapse. It is highly immoral and unethical if not illegal to sell these CDOs when GS's hidden agenda was (1) to structure them so that they were toxic, certain to fail and (2) sell them with an intention to short them. That they bought CDS on this crap from AIG for whom the American taxpayer is footing the bill pisses me off royally. We paid, nay, rewarded GS handsomely, for this bit of skanky behavior.

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