Archive for June, 2010

How Goldman Secretly Bet on the U.S. Housing Crash

Wednesday, June 2nd, 2010

By Greg Gordon - McClatchy Newspapers

WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Read more

These ‘businessmen’ and others of their ilk stole one trillion dollars from us and our government. Along with BP in the Gulf, they must be ordered to return the money and make whole those who have lost everything. And then the CEOs must be charged as criminals, and, once convicted, and sent to jail.

If an inner city kid selling crack can get half a lifetime in prison, shouldn’t these ‘white collar’ guys — who sold out the people of the United States of America — serve half of their lives in adjoining cells?