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 3:42 PM

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