That's the Prime Directive for the MOTU. Customers and country don't matter much as long as they get billions in bonuses.
How Goldman secretly bet on the U.S. housing crash
Posted on Sunday, November 1, 2009
WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.
Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies.
These thieves did the same thing during the dot com bubble.
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