01/02/2014 9:13:58 PM PST
· 31 of 42 kenavi
to Wingy; BenLurkin
The risks were there for the buyers to see, in the prospecti and the footnotes to the banks' financial statements.
Goldman Sachs was hauled before Congress for a MBS it had sold, when the buyers themselves weren't suing them for it. And it had nothing to do with the financial meltdown.
What there was was a bubble economy and concentration of investment risk on U.S. home prices, which grew out of whack in relation to household income.