Goldman Sachs Busted
Washington, D.C., April 16, 2010 – The Securities and Exchange Commission today charged Goldman, Sachs & Co. and one of its vice presidents for defrauding investors by misstating and omitting key facts about a financial product tied to subprime mortgages as the U.S. housing market was beginning to falter.
Goldman, Sachs is getting busted, finally, for what to me is one of the most devious and brilliant crimes of the last decade.
I can’t get into this too much because I have other material coming out about it. But the upshot of it is that GS teamed up with a hedgie named John Paulson (no relation) to make the biggest ball of subprime shit they could, got short of it by credit-default-swapping it, then roped third parties into buying it. It’s kind of awesome in a way, and I’m sure it was fun while it lasted.
But now… I’m reminded of the scene in Goodfellas when the cops bust Henry…:
Bye bye, dickhead!
Around the Web
Around the Web
Men's Journal12 Things Everyone Should Know About Vaginas
Guitar WorldThe 13 Creepiest Album Covers of All Time
Diffuser10 Cover Songs Better Than The Originals
Guitar WorldThe 10 Best Stage Names of All Time
SalonThe 7 Most Offensive TV Shows Of All Time
Men's Journal9 Traits That Attract Women
- Watch Bruce Springsteen's Surprise Performance With U2
- Tom Brady: Sympathy for the Devil
- Up in the Air: Meet the Man Who Flies Around the World for Free
- Hear Drake Demolish Meek Mill on 'Back to Back' Freestyle
- Meek Mill's Drake Diss 'Is Trash': Sports World Reacts to 'Wanna Know'
- 'Rowdy' Roddy Piper Dead at 61
- Watch Lauryn Hill's Show-Stopping 'Feeling Good' on 'Tonight Show'
- Dr. Dre's 'Detox': A Timeline of Hip-Hop's Great Unfinished Album