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Goldman Executives Cheered Housing Market's Decline, Newly Released E-Mails Show

04/24/2010 7:02:22 PM PDT · by Steelfish · 71 replies · 1,368+ views
Washington Post ^ | April 24th 2010 | Zachary A. Goldfarb

Goldman Executives Cheered Housing Market's Decline, Newly Released E-Mails Show By Zachary A. Goldfarb Sunday, April 25, 2010 As the U.S. housing market started to slide, executives at the most legendary investment bank on Wall Street, Goldman Sachs, were trading e-mails in which they cheered the declines, even when those declines meant some of their clients were taking major losses, according to newly released documents. The documents show that the firm's executives were celebrating earlier decisions in which they bet against the housing market, a Senate investigative committee found. In a fall 2007 e-mail, for example, top mortgage trader Michael...

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