Goldman Nets $50 Million in One Day Shorting the Market During the Financial Crisis

Filed under: Goldman Sachs Group (GS), Federal Reserve, Financial Crisis

At long last some details of short trades by Goldman Sachs (GS) are coming to light. During the height of the crisis, Goldman netted $50 million in one day shorting the market, or betting against the mortgage market.

It probably was the intensified short selling, not only by Goldman but by other large banks, that drove prices down so fast and so hard. When all the investigations are completed on the other big banks, we'll probably find the real, behind-the-scenes trading strategies that brought us to our knees.

Continue reading Goldman Nets $50 Million in One Day Shorting the Market During the Financial Crisis

Goldman Nets $50 Million in One Day Shorting the Market During the Financial Crisis originally appeared on BloggingStocks on Sat, 24 Apr 2010 14:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Full story at http://www.pheedcontent.com/click.phdo?i=50bb83f979d08cffff6b9b71dc3c2d1a