Having watched Goldman Sachs Fabrice Tourre defend his ‘collection of garbage mortgages’ just made me angry.
Goldman Sachs and it’s senior managers sold their own clients garbage investments.
Knowing that the investments would become worthless, they shorted the stock of their own client.
Result: Tons of money for Goldman Sachs and big bonuses for the managers.
Now, I am not the smartest cookie in the jar but to me it looks like fraud.
Question has to be asked.
What should happen to these Goldman Sachs managers? How does one get justice?
Just my 2 cents!
Comments are welcomed and encouraged.