The Evil Giant Global Vampire Squid Bet Heavily on the Failure Of Its Own Products

It seems that the economy-wreckers at Goldman Sachs not only just bet against their own products; they were actively selling their own CDOs short to the point that questions are arising whether Goldman Sachs knowingly sold securities that were guaranteed to fail so that Goldman Sachs could make a shitload of money from selling them to investors and then sold them short so that Goldman Sachs could make another shitload of money when those "securities" inevitably went sour:

“The simultaneous selling of securities to customers and shorting them because they believed they were going to default is the most cynical use of credit information that I have ever seen,” said Sylvain R. Raynes, an expert in structured finance at R & R Consulting in New York. “When you buy protection against an event that you have a hand in causing, you are buying fire insurance on someone else’s house and then committing arson.”

The financial arson allegedly committed by Goldman Sachs did not just burn down a house. It burned down the global economy.

Let me put it plainly: Those fuckers at Goldman Sachs (and other banks) are alleged to have deliberately created the housing bubble. They pumped up the housing market by artificially creating a huge demand for CDOs, which made sub-prime and adjustable-rate mortgages ridiculously cheap. That flood of cheap money then drove up housing prices. And when it crashed, the very same evil bastards who drove up the housing market profited immensely from its collapse.

Don't expect much from the Federal government as far as investigating this global act of financial arson, as administration after administration has been riddled/infiltrated/infected/contaminated with people who worked at Goldman Sachs. They will do what they always have done, protect their friends and fuck over the American people. If anyone from those fraudulent operations ever goes to jail for this, it will be because a state attorney general or a county prosecutor went after them. (I'm looking at you, Andrew Cuomo and Cyrus Vance, Jr. Let's see if Vance can fill Robert Morgenthau's shoes.)

The article in the NY Times is a long one, but it is worth reading as it names some of the douchebags who were behind this giant global fraud. If you have a house that you cannot sell because you are underwater on the mortgage, if you have already lost your home, if you are paying on a mortgage that will soon reset to a much higher rate (and which you cannot refinance because the mortgage amount far exceeds the value of the house), if you are one of the millions of people who have lost their jobs in the Goldman Sachs Recession or if you are one of the millions more who have had their pay slashed (whether by reduction in your hours worked or by an outright pay cut), you ought to read the article.

No wonder those fuckers at Goldman Sachs are buying guns.