[Free Vulcan]

Fannie and Freddie were the gatekeepers. Without them there would be no junk subprimes originated by banks like Countrywide for brokerages like The Golden Sacks to collateralize. F+F essentially put the system on crack.

Here's the other problem:

"Goldman, the Journal reported, created CDOs in 2006 and 2007 to shield its exposure to the US housing market, and has been accused of making large bets against the market while selling bullish positions to group(s) that were not expecting the market to fall."

Any horse's ass who invests and thinks things will never change is a sucker to be taken and should have never been in the market in the first place.

[Toddsterpatriot]

Any horse's ass who invests and thinks things will never change is a sucker to be taken and should have never been in the market in the first place.

True. The customers buying the synthetic CDOs from Goldman were huge, sophisticated multi-billion dollar firms. In fact, they requested the CDOs be created, so they could buy them. LOL!