November 2, 2009 - 05:26 pm
News Feed: Arizona

McClatchy News' Investigative Report on Goldman Sachs - Part 2

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Posted by AzBlueMeanie:

McClatchy News continues its investigative report on Goldman Sachs with part 2 of the series Goldman takes on new role: taking away people's homes:

Goldman Sachs spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.

The couple alleges that Goldman declined for three years to confirm their suspicions that it had bought their mortgages from a subprime lender, even after they wrote to Goldman's then-Chief Executive Henry Paulson — later U.

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