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[DealBook] The Goldman Defense: Caveat Emptor - DealBook Blog - NYTimes.com: disclose the involvement of Paulson, the Staff relies on a theory that references in the offering documents to the Portfolio Selection Agent were misleading because they somehow implied that the agent, ACA Capital Management LLC (“ACA”), picked the portfolio in isolation without input from any participant, including ones whose true economic interests at the time were opposite those of the noteholders. But the Reference Portfolio, however it was selected, was fully disclosed and available for all to evaluate on its merits.

[Blog All Over The World.com] Janet Tavakoli: ProPublica's (and NY Times's) “Untold” Magnetar ...: They said my book gave them the idea to apply the structure to the other loan markets, but banks had already approached many hedge funds with this trade to get around post-Enron accounting issues (among other reasons). The documentation for mortgage loans had already been developed, albeit ISDA didn't issue a template until June 2005;

[DealBook] With S.E.C. Suit, Goldman Faces Major Test - DealBook Blog ...: But according to interviews with eight former Goldman employees, senior bank executives played a pivotal role in overseeing the mortgage unit just as the housing market began to go south. These people spoke on the condition that they not be named so as not to jeopardize business relationships or to anger executives at Goldman, viewed as the most powerful bank on Wall Street.

[The Palgrave Econolog - latest stories (min 3 posts)] The Palgrave Econolog - story details: Daniel Gross in Newsweek on how America pulled itself back from the brinkand why it's destined to stay on top:"The long-term decline of the U.S. economy has been greatly exaggerated. America is coming back stronger, better, and faster than nearly anyone expectedand

[The Economic Collapse] Wow! The SEC Formally Charges Goldman Sachs With Fraud: Goldman Sachs helped create the housing collapse by selling mortgage-related securities that were absolute garbage to trusting clients at vastly overinflated prices.  Then Goldman Sachs placed huge bets against those same mortgage-related securities and also placed huge bets against the U.S. housing market.  When the U.S. economy collapsed in 2008 and 2009 they ended up making huge profits. 

[Rising in Phoenix] April 20, 2010 « Rising in Phoenix: Require all standardized derivatives to be traded over exchanges and central clearinghouses with pricing transparent to market participants include a strong presumption that most existing OTC transactions would be standardized. Require all inter-bank and inter-dealer contingent claims (including but not limited to derivative and swap transactions) that cannot be standardized to be reported on a daily basis to a regulated transparent clearinghouse.

[DealBook] For Goldman, a Bet's Stakes Keep Growing - DealBook Blog - NYTimes.com: And it raises new questions about Goldman, the bank at the center of more concentric circles of economic and political power than any other on Wall Street. Goldman ”” whose controversial success has leapt from the financial pages to the cover of Rolling Stone ”” has fiercely defended its actions before, during and after the financial crisis.

[911 Job Forums] One of the real reasons our economy failed: Securitization was the final ripple effect in what was a completely bollocks idea to begin with, namely, that the greater good would be served by putting financial institutions at regulatory gunpoint to write crappy mortgages to begin with. There were unclean hands and bad actors in the industry, to be sure, but the genesis had little to do with greedy bankers and a lot to with government intrusion into the banking world ("but people DESERVE the American Dream..

[The Daily Beast - Blogs and Stories] Inside Paulson's Deal with Goldman - Page 1 - The Daily Beast: Paulson’s team would pick a hundred or so mortgage bonds for the CDOs, the bankers would keep some of the selections and replace others, and then the bankers would take the CDOs to ratings companies to be rated. Paulson would buy insurance on the mortgage debt and the investment banks would find clients with bullish views on mortgages to take the other side of the trades.

[Room for Debate] What Goldman's Conduct Reveals - Room for Debate Blog - NYTimes.com: But, it strikes me as odd that Goldman has been charged when Lehman Brothers had a $150 billion hole in its balance sheet that, at a minimum, represented a potential Sarbanes-Oxley violation. To this non-lawyer, it seems unlikely that the Goldman legal case is better than a potential legal challenge to Lehman’s use of an accounting device, known as “Repo 105,” to temporarily move assets.

[Balloon Juice] Balloon Juice » Blog Archive » Wall Street Cosplay: While some derivatives, such as corn or livestock futures, are traded on exchanges that are relatively well regulated, many are currently over-the-counter derivatives that operate with little oversight. The Democrat’s proposal would require that most derivatives be traded through exchanges, would increase regulation of those that do not, and would require that derivatives businesses be walled off from the rest of the business at a financial institution so that the serious losses that can be incurred in derivatives will not cause the entire financial institution to crash.

[Opinionator] Goldman's Stacked Bet - Opinionator Blog - NYTimes.com: A number of journalists and commentators (yours truly included) have taken issue with the fact that some dealers (most notably Goldman and DeutscheBank) had programs of heavily subprime synthetic collateralized debt obligations which they used to take short positions. Needless to say, the firms have been presumed to have designed these CDOs so that their short would pay off, meaning that they designed the CDOs to fail.

[Blog All Over The World.com] David Paul: Goldman Sachs Fraud Case is a Distraction From the ...: That Goldman Sachs has become the poster child for all that ails us is its own fault. Like its banker brethren, Goldman has used the global financial crisis to its own advantage--gathering tens of billions of public dollars as AIG was unwound and gaining access to the Fed window--and has made effective use of political money and influence to perpetuate a system that assures Wall Street freedom to pursue massive profits, while the public continues to bear the risk.

[The Big Picture] The Magnetar Trade: How One Hedge Fund Helped Keep the Bubble ...: Our understanding is that for some time, the SEC staff has been looking broadly at the sales, marketing, and structuring of CDOs. In connection with that inquiry, the SEC staff has from time to time requested information from Magnetar and other market participants, and Magnetar has been cooperating and responding to the requests.

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