Economy Rigging 1

Goldman Sachs under fire and question April 27, 2010

Filed under: Uncategorized — bashstreetkidjailbreak @ 5:03 pm

The Guardian blogger Richard Adams

And the Wall Street Journal has a round-up of Goldmans jargon you might be hearing about in the email correspondence that the committee will examine. Such as: Lemonade: A structured-financial deal Goldman mixed up to make bad loans go down easy on investors. Used in a sentence, from a Goldman email: “They structured like mad and travelled the world, and worked their tails to make some lemonade from some big old lemons.

But there could be lower points to come for Blankfein. According to today’s New York Times, Goldman Sachs devised “a series of complex deals to profit from the collapse of the home mortgage market”, which goes beyond the one deal that the SEC has picked out.

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