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Goldman Sachs Execs Bragged of Profiting from Housing Crash

HeadlineApr 26, 2010

Newly disclosed emails from 2007 show executives at the bailed-out Wall Street giant Goldman Sachs bragged about profiting from the collapse of the housing market. Messages released by the Senate Permanent Subcommittee on Investigations show Goldman execs spoke of their earnings from making negative bets, or shorts, that home values would drop. Goldman has maintained it lost money from mortgage-related investments. The Senate panel released the emails ahead of Tuesday’s scheduled testimony by Goldman Sachs executives.

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