[lbo-talk] more drips and drabs re Goldman Sachs

[Hein Marais]

http://www.bbc.co.uk/news/business-13077509
<< On Wednesday, the Senate subcommittee said it had found "a variety  
of troubling and sometimes abusive practices" by banks in 2007 as the  
credit crisis began.

The report said that Goldman marketed four sets of complex mortgage  
securities to banks and other investors, but failed to tell them the  
investments were very risky.

In addition, the report said the bank did not mention that it was  
itself betting that the investments' value would fall, indicating it  
sold products to clients it did not believe in backing itself. >>