Politics & Government

December 30, 2009 3:42 PM

Goldman's offshore deals deepened global financial crisis

When Goldman Sachs joined some of its Wall Street rivals in late 2005 in secretly packaging a new breed of offshore securities, it gave prospective investors little hint that the deals were so risky that they could end up losing hundreds of millions of dollars. Not only were investors buying shaky securities backed by mortgages, but they also were agreeing to pay Goldman if the risky home loans nose-dived in value — as Goldman was betting they would.

Related content

Comments

Videos

More Videos

Sanders: ‘It doesn’t appear that I’m going to be the nominee’ 3:10

Sanders: ‘It doesn’t appear that I’m going to be the nominee’

Clinton rails against Trump economic policy, defends Clinton Foundation 4:08

Clinton rails against Trump economic policy, defends Clinton Foundation

Clinton proudly claims the woman card in Raleigh stump speech 0:29

Clinton proudly claims the woman card in Raleigh stump speech

Democrats disrupt House, stage sit-in to force gun control vote 2:14

Democrats disrupt House, stage sit-in to force gun control vote

Donald Trump: Hillary Clinton is a world-class liar 2:15

Donald Trump: Hillary Clinton is a world-class liar

California congressman pushes for bipartisan gun legislation during sit-in 3:19

California congressman pushes for bipartisan gun legislation during sit-in

Clinton rails against Trump economic policy, defends Clinton Foundation 4:08

Clinton rails against Trump economic policy, defends Clinton Foundation

Sometimes presidential losers turn out as winners 1:59

Sometimes presidential losers turn out as winners

Sen. ​Chris ​Murphy: 'I'm mortified by today's vote but I'm not surprised by it' 2:23

Sen. ​Chris ​Murphy: 'I'm mortified by today's vote but I'm not surprised by it'

Sanders stays in race, says political revolution will continue 1:51

Sanders stays in race, says political revolution will continue

CIA Director: IS working to send operatives to the West 10:36

CIA Director: IS working to send operatives to the West

Share Video

Politics & Government Videos