Saturday, April 17, 2010

The Chutzpah Of Goldman Sachs

So the feds are suing Goldman Sachs for securities fraud, specifically for creating a financial instrument that enabled the giant bank and select clients to bet against the housing market, yielding huge profits all around when the housing bubble broke.

Goldman responded to the lawsuit by stating that the accusations are "completely unfounded in law and fact" The firm said it would "vigorously contest them and defend the firm and its reputation."

No comments: