On Dec 14, 2007 6:33 AM, Charles Brown <[EMAIL PROTECTED]> wrote: > Wall Street Journal - December 14, 2007 > > How Goldman Won Big > On Mortgage Meltdown >
Thanks for forwarding this Charles. What I'd still like to know is how was Goldman successful in shorting the ABX index at such a massive scale? I mean in order for someone to short a security there has to be someone else willing to take the other side of the trade right? Who in their right mind was actually going long on subprime mortgages even early this year? And why does Goldman have so many "Level 3" (mark-to-model) assets? http://www.bloomberg.com/apps/news?pid=20601087&sid=a9yNwqgsVPGA Something tells me that a lot of profits from their short position on subprime are still marked-to-model. -raghu.
