No kidding, this is exactly what everyone's known all along, that GS, and their insider clients, have been profiting by betting against the very debt products they help to package and sell.
Think about the timing of this. It comes just as I have been talking about a "triggering event" that will take the blame for turning the markets. This suit was reported AFTER the open on OPTIONS EXPIRATION day. Why now? My suspicious mind says that it was timed to allow the options sellers and contract speculators to walk away and to instill maximum damage on the retail buyers of the ALL TIME RECORD number of option call buyers who were in the market just yesterday.
Read the whole thing here and don't forget to check out the links to swarmusa. This whole mess could have been avoided and so can the future mess coming down the road.
Washington politicians on Wall Street's payroll?
Democracy Now! co-host Juan Gonzalez discusses his interview with UBS whistleblower Bradley Birkenfeld one day after Birkenfield's Tax Day clemency request to President Obama.
VIDEO: Did Goldman Sachs Commit Fraud?