Word: goldmans
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...emails’ release comes just days after Goldman was charged by the Securities and Exchange Commission with misleading investors about a pool of mortgage-backed securities that later lost significant value...
...Goldman managers directed traders to close out positions that bet on a decline in the housing market in order to reap large profits for the firm at a time when many investors were suffering huge losses from their exposure to real estate...
...real estate market soured, credit default swap rates increased to 200 basis points, and Goldman stood to profit from the trade while Harvard, as a counterparty, suffered losses...
...April 16, the SEC alleged that Goldman misrepresented to investors the involvement of hedge fund manager John A. Paulson—who famously made billions through bearish bets on the housing market in 2007—in assembling a portfolio of mortgage-backed securities that he later bet against...
...Goldman has vigorously denied charges of fraud...