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http://www.hks.harvard.edu/m-rcbg/students/dunlop/2009-CDOmeltdown.pdf read this when you guys have a chance ...peace

of course they were in trouble and perhaps on the verge of being extinct. It's amazing how even with the advantage of hindsight some still would say that they were doing ok. Asia has popped up in every thread having to do with GS and has defended them on every single one of them. I could care...

Either they lied, looked the other way or Wall Street was actually the dumb money this time around.

their exposure was enough to put them out of business. Why? because the counterparty who had the other side was going belly up. Even if they were on the right side of the trade, they would not have been paid and the tax payer had to pony up. Cmon, how can anyone argure this looking back? not to...

The whole lot of them would have ceased to operate had it not been for the back room arm twisting up the ass they gave the tax payers. Do you really expect anyone to believe they had superior risk management? there would not have been record bonuses had they managed their risk properly...

why change a good thing...the "BOX IN" pitch. It is desigend to get 3 yes's from you and at least 100 shares of a blue chipper... :D "I know you get a 1000 calls a day and it's hard to distinguish between who's right and who's wrong; all I want today is to pick up an amount you feel...

seriously...a 4 hour lunch.

"La Zeta" would make you their bitch :D

the ordorl started when salomon went from a partnership to a public company and they all followed. That's when they shifted the risk from the partners to the shareholders and eventually the tax payer....that's the beggining of the end... 1980's..

http://www.hks.harvard.edu/m-rcbg/students/dunlop/2009-CDOmeltdown.pdf

Howie Hubler a MS trader who bought $16billion in CDO's lost $9billion...it was the biggest loss from a trader in the history of wall street i believe and he hit the bid eventually...AIG didn't hit the bid although they did stop buying in early 07' ( i think )..oh yeah and he got a $25million...

yes

Can I get Kofi Annan Grande please? :D

"Several legal experts suggested Goldman and the SEC had reached an impasse over a settlement before the charges were announced. They speculated that Goldman was unwilling to admit that it allowed the hedge fund to create a portfolio of securities that was designed to fail because that admission...

They certainly don't go in without ammunition.

because the same people that work at the FDA which approve drugs like VIOXX go on to work for big pharma. You are right though. This has been going on since the begining of time though, it just makes the news now more often...Tobaco companies lied for many years and the biggest lie of all is the...

I don't think the home owner has any blame if you ask me. They did ( as proven by our recent debacle ) what was expected of them....bite off more than they could chew. It would happen again if given the same opportunity...

worse than that...it is like setting up a poker hand of AcAs (German institution) and 2d2h (paulson) and then aranging the flop to come out Ad 2c 2s......:eek:

Yes the reason it reached more people is because they brought in more people to the party this time in the form of loans( free money in the hands of the wrong people ) and rising home equity which in turn fuled more demand. The average joe could not buy $400k in a dot-com company back in the...

Back in 1999 and 2000 a bunch of crap dotcoms came to the market. They were created in the same way bundled paper was created now....Demand.