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Angry Bear (0) 
4 weeks ago

Via Greg Mitchell's Twitter feed, lying isn't just for the IB branch any more: 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.S. Treasury secretary — in 2003.Unable to identify a lender, the couple could neither capitalize on a mortgage hardship provision that would allow them to defer some payments, nor on a state law enabling them to...

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tags:  bailout, moral hazard, goldman sachs, mortgage markets
 
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