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The issue says the New York Times is whether the financial meltdown was caused by one of these frequent crises of capitalism as bankers would have us believe or was there malfeasance involved. This is its comment on the SEC filing civil charges against Goldman Sachs in the Abacus case in which Goldman helped Paulson put together a batch of bad mortgage securities into a security that it sold to its institutional clients, without disclosing what Paulson had done and without disclosing that Paulson had structured these securities precisely so that he could bet against them. As other financial houses are also involved in dealings of this type, the New York Times editorial says this will mean people at these firms will also not be sleeping well in the coming days and months. This is a story that Gretchen Morgenson and Louis Story of the New York Times wrote about for the first time several months back.
The issue says the New York Times is whether the financial meltdown was caused by one of these frequent crises of capitalism as bankers would have us believe or was there malfeasance involved. This is its comment on the SEC filing civil charges against Goldman Sachs in the Abacus case in which Goldman helped Paulson put together a batch of bad mortgage securities into a security that it sold to its institutional clients, without disclosing what Paulson had done and without disclosing that Paulson had structured these securities precisely so that he could bet against them. As other financial houses are also involved in dealings of this type, the New York Times editorial says this will mean people at these firms will also not be sleeping well in the coming days and months. This is a story that Gretchen Morgenson and Louis Story of the New York Times wrote about for the first time several months back.
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Sony's new Xperia Ion Android 4G smartphones and the Xperia Ion ad campaign.
Sony's new Xperia Ion Android 4G smartphones and the Xperia Ion ad campaign.
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