Barack Obama #WellsFargo #BankofAmerica #Chase #CitiBank #HSBC #AIG “During Americas Subprime collapse Goldman traders Joshua Birnbaum and Michael Swenson made a 4 billion dollar profit by short selling junk mortgages, backed by Daniel Sparks, internally Goldman Sachs called their position The Big Short and bet against their own clients. Senator Carl Levin called Goldman Sachs Chief Executive Lloyd Blankfein to a Senate Subcommittee to testify under oath: ...Much has been said about the supposedly massive short Goldman Sachs had on the US housing market. The fact is we were not consistently or significantly net short the market in residential mortgage related products in 2007 and 2008. We didn’t have a massive short against the housing market and we certainly did not bet against our clients.... “Riding the big short in 2007 made billions of dollars for Goldman Sachs and so far they’ve gotten away with it all.” From the documentary Four Horsemen source video: youtube/watch?v=5fbvquHSPJU
Posted on: Sat, 19 Jul 2014 03:51:05 +0000