NEW YORK (The Borowitz Report) – In what is looming as another public relations predicament for Goldman Sachs, the banking giant admitted today that it made “a substantial financial bet against the Gulf of Mexico” one day before the sinking of an oil rig in that body of water.
The new revelations came to light after government investigators turned up new emails from Goldman employee Fabrice “Fabulous Fab” Tourre in which he bragged to a girlfriend that the firm was taking a “big short” position on the Gulf.
And, what is this….? http://www.thestreet.com/story/10735330/goldman-emails-boast-of-housing-shorts.html
NEW YORK (AP) — Emails released Saturday morning show top executives at Goldman Sachs(GS) boasting about the money the firm was making as the national housing market collapsed in 2007.
The emails suggest Goldman benefited from its bets that securities backed by subprime mortgages would lose value.
“Of course we didn’t dodge the mortgage mess,” CEO Lloyd Blankfein wrote in an email dated Nov. 18, 2007, according to the emails released Saturday by the Senate’s Permanent Subcommittee on Investigations. “We lost money, then made more than we lost because of shorts.”