Goldman Sachs FRAUD Charges Filed By SEC Over Subprime Mortgage Securities

The SEC claims Goldman Sachs and one of its top officers misled investors by not disclosing that hedge fund manager John Pauson, who made billions betting against the housing market, selected the assets that went into a complex security called “Abacaus.” How does John Paulson relate? Well, ladies & gentlemen, he bought (with friends) the remnants of Indymac Bank. He was also in September 2008, prior to his purchase of the bank testifying before Congress on how to develop financial reform regarding the subprime mortgage lending- which he helped create. How odd.

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To read about the Time Magazine article from November 2008, CLICK HERE.