**Why do I bring this up again? Not ONE (1, single, nada) person has been made to pay for the worst financial crisis in our history....not 1. And at the same time our own Congress can't put forth legislation to make it illegal for them and ONLY them to profit from "INSIDER INFORMATION". Is it any wonder to see why their approval rating is lower than our Presidents?
http://www.thecasualtruth.com/story/goldman-sachs-subprime-scandal
The Goldman Sachs subprime scandal
Wednesday 21st April 2010
Wednesday 21st April 2010
Read a 30-second background on:
The US sub-prime mortgage crisis explained
The shock announcement rattled nerves across the stock markets, with Goldman’s own share price falling by 13%.
But the bank has come out firing, saying the charges have no basis in fact or law and it will vigorously defend both the firm and its reputation.
The alleged fraud occurred in 2007 – about the time the US housing market was faltering.
The SEC says Goldman Sachs advised two of its clients to accept a US$1 billion bet over sub-prime mortgage bonds that they knew were going to fail.
They say Goldman did not tell the clients that the person they were betting against, John Paulson, had actually fixed the odds in his favour.
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