No doubt in my mind this is planned.
I read some of the Wall Street Journal articles today; and I am still trying figure what they did wrong.
They bundled mortgages (that had already been made) that were already identified as having a high risk for failure; to sell to sophisticated investors.
And someone also took hedge positions that the same mortgages would go bad.
With the government's headlines; the uninformed public will somehow believe that Goldman somehow pushed individual homeowners into default.
Completely wrong.
If someone did something illegal fine...go get them. But to use this as an excuse to interpose Gov't oversight forever because of a lousy law that the Gov't passed in the first place (CRA) which got this whole ball rolling while Dodd and Frank get off scot-free...well, that blatantly sucks.