4 ms·
Wait, I thought Goldman came out ahead from the crisis. They had the, "we didn't avoid the mortgage mess, we just made more money on shorts than we lost" and "
by mywittyname 6y ago
Wait, I thought Goldman came out ahead from the crisis.
They had the, "we didn't avoid the mortgage mess, we just made more money on shorts than we lost" and "we are very well positioned" emails that became evidence in the Senate investigation into the GFC. The ones are the namesake for the book/movie The Big Short.
- briankelly 6y agoAs soon as they had a big enough short position and unloaded their long is when the spiral happened. They were the ones setting the swaps prices since they were the biggest market maker for mortgage backed securities.