Oct
30
“In effect, the documents said, Wall Street was “copying and pasting” what turned out to be the worst-performing securities of the mortgage boom. Such activity helped multiply opportunities for hedge funds and traders who wanted to short the housing market, but magnified the losses of those on the other side of the trades. To short a trade, in this instance, is to bet the housing market will turn down.”
Carrick Mollenkamp and Serena Ng in Senate’s Goldman Probe Shows Toxic Magnification - WSJ.com (via quotingthecrisis)
(via quotingthecrisis)
