159. profit

July 17, 2009 § Leave a comment

and

Goldman, famously, made a lot of money selling securities backed by subprime mortgages — then made a lot more money by selling mortgage-backed securities short, just before their value crashed. All of this was perfectly legal, but the net effect was that Goldman made profits by playing the rest of us for suckers.

via Op-Ed Columnist – The Joy of Sachs – NYTimes.com.

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