Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
In reply to the discussion: STOCK MARKET WATCH -- Wednesday, 23 January 2013 [View all]snot
(10,524 posts)4. Anyone who suggests Goldman didn't know exactly what they were doing
when they bought derivatives betting that the securitized mortgages would crater is either a liar or an utter fool.
The mere fact of those bets should have triggered mass firings if not prosecutions; instead, it was mass bonuses.
They won, not because they did anything clever, let alone productive. They won because they cheated.
Sorry; preaching to the choir.
Edit history
Please sign in to view edit histories.
41 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations