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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.
Goldman Sachs in the global financial crisis of 2008-2009
04/01/2010
Grouped Articles
BusinessWeek 04/01/2010
New York Times 04/17/2010
New York Times 04/17/2010
Paulson, Looking to Go Short on Mortgages, Found a Willing Partner
Wall Street Journal 04/17/2010
Trader Seized on Mortgage-Security Boom
Wall Street Journal 04/17/2010
U.S. Charges Goldman Sachs With Fraud
Wall Street Journal 04/17/2010
Goldman Sachs, Paulson, and the S.E.C. suit in the Abacus case.
05/04/2009
Paulson had Goldman Sachs structure as ecurity out of handpicked bad apples in the mortgage securities market, Goldman then sells these securities to institutional investors without disclosing what Paulson had done and without disclosing that Paulson had bet heavily against them.
Grouped Articles
BusinessWeek 04/01/2010
New York Times 04/17/2010
Abacus Deal: As Bad as They Come
Wall Street Journal 04/20/2010
Wall Street Journal 04/20/2010
Economist 04/29/2010
SEC Tries to Rebuild Its Reputation
Wall Street Journal 09/12/2013
Goldman Sach's Short of the Housing Market
01/09/2010
Grouped Articles
BusinessWeek 04/01/2010
New York Times 04/17/2010
Goldman Faces Record Payout in Mortgage Case
Wall Street Journal 07/29/2014
Misdirection in Goldman Sach's Housing Short
New York Times 06/16/2011
Goldman's Shares Tumble as Blankfein Hires Lawyer
New York Times 08/22/2011
Public Rebuke of Culture at Goldman Sachs
New York Times 03/14/2012
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