By Padmini Arhant
The Securities and Exchange Commission filed lawsuit against Goldman Sachs on the toxic derivatives camouflaged with the internationally renowned investment firm, authenticating the risky mortgage securities sold to trusting investors in the domestic and global financial market.
Goldman Sachs is engaged in Investment Banking, Trading and Principal Investments, and Asset Management and Securities Services.
Needless to state that sub-prime mortgage is synonymous to the ‘speed boat’ designed for a fatal crash due to the deliberate sabotage. Sure enough, it had a negative impact on the financial and housing market that contributed to a precipitous economic decline worldwide.
The savvy designers protected their own investment with ‘insurance’ on the ‘abyss’ through yet another global conglomerate ‘AIG,’ technically partners in the ingenious profit oriented craft.
Why?
Because, the insurance companies grill the ‘regular folks’ when applying for any insurance to minimize risk exposure.
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Thank you.
Padmini Arhant
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