Sunday, April 25, 2010

It's Called Goldman Sex...

Lloyd Blankfein, the chief executive of Goldman Sachs, and Gary Cohn, president

...because they fucked you all.
In late 2007, as the mortgage crisis gained momentum and many banks were suffering losses, Goldman Sachs executives traded e-mail messages saying that they would make “some serious money” betting against the housing markets...

The messages appear to connect some of the dots at a crucial moment of Goldman history. They show that in 2007, as most other banks hemorrhaged money from plummeting mortgage holdings, Goldman prospered.