Home | About | Donate

Goldman Sachs e-Mails Show Bank Sought to Profit from Housing Downturn


#1

Goldman Sachs e-Mails Show Bank Sought to Profit from Housing Downturn

Zachary Goldfarb

A Senate investigation into the financial crisis has found that Goldman Sachs,the storied Wall Street investment bank, sought to profit from thehistoric decline in housing prices by betting against the U.S. mortgagemarket.

The documents show that Goldman, at times, made big, profitable betsagainst the housing market -- sometimes betting against mortgageinvestments that it had sold to investors.