Goldman Sachs Getting Sued For Junk Mortgage Securities

Goldman Sachs apparently recommended to many of their clients in 2006-2007, to buy into junk mortgage securities that Goldman Sachs was simultaneously betting would go short.

There are trillions of dollars depending on the following civil cases.

Report: This all comes about because GS had to settle with the SEC over the infamous Abacus deal by paying a half-billion dollar fine so as to avoid admitting fault or wrongdoing.

But Allstate figures Goldman should hand over $123 million to them for passing off dog food loans it was building up as prime rib in public.

Of course, everyone on the planet got caught selling short in that deal, and now AIG is suing Bank of America to the tune of $10 billion dollars for the monumental mess it caused the entire world economy.

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (Alexander90210.com), he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Alexander90210.com. Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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