By: Kevin Grant

Kevin Grant — Thu, 11 Sep 2008 00:18:13 +0000

I just googled this article and noted the date. I've got to say, hats off to you. You filtered through the BS and you saw what was happening.

By: edjerider

edjerider — Tue, 05 Feb 2008 07:00:58 +0000

There is a big part of the puzzle missing and I wish those in the know would comment on it. Where did the money, the trillions of dollars in securitized mortgauge debt...GO?
All those CDO's that were sold worldwide were paid for in cash, paid for by the pension savings of average people, paid for by our insurance premiums.
Not just in the US but in Australia, britian, Germany... I know some was declared as bank profits etc, some paid in dividends. But all of it? Where is all that money?

By: Cecilia L. Fabos-Becker

Cecilia L. Fabos-Becker — Wed, 16 Jan 2008 00:05:29 +0000

You've only spotted a part of the iceberg. Go look up on the SEC Edgar site the following: GSAMP Trust, GS Mortgage, and GSR Mortgage. You'd be surprised at how many subprime mortgages they own and securitized. Also, they didn't bother to record the ownership of the notes properly, or the assignment of deeds of trust, which is starting to be discovered as they try to foreclose on some of the older loans. My husband and I are in Chapter 13 bankruptcy--and in foreclosure, and discovered that not only had they not accurately conducted and filed required reports on chains of conveyance of assignment of deeds of trust, etc. but they lied to us about who the lenders were and their selected servicing agent, Ocwen Federal Bank, FSB (later reorganized to escape federal regulation as Ocwen Financial Corporation)never forwarded any of our appeals to them, or proposals for renegotiation or restructuring on the basis of hardship after experiencing several bona fide disasters (our business was twice in a FEMA declared disaster area and once in a State declared emergency area, etc.). We've documented at least two dozen violations of RESPA, and other federal codes in the handling of our mortgages. It's not likely they were doing this all just to us. There were 3,086 mortgages whose securities were all bundled under "GSAMP Trust 2002-WMC1" (found under GS Mortgage in the Edgar listings). So, stay tuned, folks, and watch what happens in various types of U.S. Federal courts, as more victims--and their attorneys realized just how badly they have been damaged by Goldman Sachs and their lack of disclosures, responses, etc., and dealing with real hardships. What's really funny, however, is that the current U.S. Secretary of the Treasury, President Bush's publicly designated "point man on the subprime mortgage crisis" was until 2006, the CEO of Goldman Sachs Group, Inc.. So the President of the U.S.--and the majority of U.S. Senators just rewarded the former CEO for defrauding and raping investors worldwide... Where's the International Court and international plaintiffs on this one? Doesn't ruining this many investors--not to mention God knows how many thousands, tens of thousands, or more, homeowners--somehow qualify for "crimes against humanity?" Even China has a "human right" the guarantee of a decent home--something with which their hitherto good friend Mr. Paulson doesn't seem to agree.

Comments on: Goldman Sachs Escaped Subprime Collapse by Selling Subprime Bonds Short

By: Kevin Grant

By: edjerider

By: Cecilia L. Fabos-Becker