If they did in fact put together the worst mortgage-backed securities they could find and then pawn them off as low-risk investments so that they could short them, then they ought to be jailed and fined and their clients who lost money ought to be able to sue the hell out of them.
There was a youtube video of a couple of guys that I saw a year or more before the whole crash. They had guys “explaining” these high-risk mortgage packages. It is sad and sickening looking back, put the guys did it in a very funny way.
Talking about taking all of these lousy mortgages and selling them to guy’s in Quater or someplace. Then packaging them together with another pile from some other place. Wrapping them all together and give it some fancy name, like Diversified Plus Real Estate, or Platinum Property Long Term Investment Fund.
And NO ONE really even knows what is in them. (Heh - sort of like the Health Care “Reform” Bill).
What gets me is, most of these risky mortgages were made because Clinton allowed, and in some cases MADE the banks make them. And now Obama wants to stick the government’s fingers in the pie EVEN MORE!
On top of that GS was the market maker for this crap