Following the Money
Observations and speculations about the mortgage melt down continue to be discussed. I outlined a few of the players in a post called Wall Street and Real Estate. It is amazing and good to see notable authorities on the subject following the money. William Cohan a former Lazard banker reveals the mystic behind Golman Sachs may not be all that …
This snippet of Cohan’s interview with New York Magazine’s writer Jessica Pressler illuminates the relationship large and noteworthy hedge fund operators had wielding their heavy hands into the demise of the mortgage meltdown. Goldman Chronicler William Cohan rightly hints of Goldman Sachs taking cues from some of the more noteworthy hedge fund operators. Paulson, mentioned in the interview was one of three hedge fund operators who made the most money ever hedging against the mortgage market in 2007 at the precipice of the looming financial crisis.
William Cohan ~
I’m sorry I am laughing. But what is one new thing.
What’s the big recent revelation? I think I lay out in clear, narrative prose — with all due respect to Janet — how Goldman shorted the mortgage market. They got the idea from John Paulson, the hedge-fund manager.
Link to the New York magazine article above to find out more about Goldman Sachs.