maybe because GoldmanSachs knew about the fraud in the first place. The criminals on Wall Street know what’s going on and make money on having inside information. The sad thing is they are helped by their pol buds in DC.
Exactly. I remember at the height of the RE boom (around 2005), stuck in a remote corner of the newspaper was a story about Citibank lobbying Congress to reform bankruptcy laws.
I recall wondering why they were doing that when everything seemed to be going great in the market and there was no bankruptcy problems.
They knew it was going to blow up.