sahara says: 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.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 offset their debt against separate, investment-related claims against Goldman. In July, the Beckers won a David-and-Goliath struggle when Goldman subsidiary MTGLQ Investors dropped its bid to seize their house. By then, the college-educated couple had been reduced to shopping for canned goods at flea markets and selling used ceramic glass. Theirs is an infrequent happy ending among the hundreds of cases... "In Goldman Sachs We Trust" is the title of chapter III of John Kenneth Galbraith's book The Great Crash - it turns out that G-S played a key role in the crash of 1929 and helped cause the Great Depression. |
View the Top Clips from November 2, 2009
Embed This Clip In Your Site...
|
|
|
|
|
New from the makers of Clipmarks: Amplify.com - Don't just share the news...Amplify it!
|
|