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Goldman Sachs and Financial System Fraud
Goldman Sachs sells an investment security that is designed to fail by hedge fund manager John Paulson. That is, a portfolio of mortgages are selected that are junk and destined to default, thereby making the investment worthless. Goldman Sachs solicits investors to purchase the securities that are backed by the junk mortgages. John Paulson thereupon shorts the entire portfolio. The securities ultimately become virtually worthless and the investors lose 98%. John Paulson makes over a billion dollars in profits shorting the same. Anything wrong with this? The Securities Exchange Commission thinks so and sued Goldman Sachs on Friday for civil fraud.
Dylan Ratigan Video Explaining The Fraud That Is Goldman Sachs & Financial System Corruption In General
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