Among the last Wall Street investment banks to jump into the subprime mortgage businesss, Goldman Sachs made a safe exit before a flood of mortgage loan defaults staggered the U.S. and global economies. While Goldman sold over $40 billion in securities backed by risky mortgages in 2006 and 2007, it made secret bets that a sharp drop in the housing market would send those securities plummeting in value. (Lisa Kaplan Gordon/MCT)
Among the last Wall Street investment banks to jump into the subprime mortgage businesss, Goldman Sachs made a safe exit before a flood of mortgage loan defaults staggered the U.S. and global economies. While Goldman sold over $40 billion in securities backed by risky mortgages in 2006 and 2007, it made secret bets that a sharp drop in the housing market would send those securities plummeting in value. (Lisa Kaplan Gordon/MCT) Lisa Kaplan Gordon / MCT
Among the last Wall Street investment banks to jump into the subprime mortgage businesss, Goldman Sachs made a safe exit before a flood of mortgage loan defaults staggered the U.S. and global economies. While Goldman sold over $40 billion in securities backed by risky mortgages in 2006 and 2007, it made secret bets that a sharp drop in the housing market would send those securities plummeting in value. (Lisa Kaplan Gordon/MCT) Lisa Kaplan Gordon / MCT

Goldman's offshore deals deepened global financial crisis

December 30, 2009 03:42 PM

More Videos

  • What happens when the government shuts down?

    The world won't end if Washington can't find a way to pass a funding bill before this weekend. That's the truth about a government "shutdown": the government doesn't shut down.