Goldman Sachs Question on news---

R

riddler

there was a third party who developed the mortgage backed securities..a hedge fund i believe..why is Goldman in trouble if it was the third party who devised the CDO's and other securities and did the shorting.
what did Goldman do?
 
Think about who was on the other side of the trade.

Hint: it wasn't Goldman

Hint: would you buy a collection credit that had been specifically chosen as likely to default by one of the best credit traders in the business?
 
It was AIG...that is why Hank (former GS CEO) said we needed to bail them out so they could pay GS and clients :D
 
how did Goldman Gain though? they leta hedgefund pick and structure the securities then that same hedge fund shorted because they chose bad securities..how did Goldman gain by this?
 
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