Over the weekend we learned this:
In late 2007 as the mortgage crisis gained momentum and many banks were suffering losses, Goldman Sachs executives traded e-mail messages saying that they were making "some serious money" betting against the housing markets.
The e-mails, released Saturday morning by the Senate Permanent Subcommittee on Investigations, appear to contradict previous statements by Goldman that left the impression that the firm lost money on mortgage-related investments.
….
Carl Levin, Democrat of Michigan and head of the Permanent Subcommittee on Investigations, said that the e-mail messages contrast with Goldman’s public statements about its trading results. "The 2009 Goldman Sachs annual report stated that the firm ‘did not generate enormous net revenues by betting against residential related products,’ " Mr. Levin said in a statement Saturday when his office released the documents. "These e-mails show that, in fact, Goldman made a lot of money by betting against the mortgage market."
And from The Hill newspaper:
Having invested $18 million over the last decade lobbying members of Congress and millions more contributing to lawmakers’ campaigns, Goldman Sachs is uniquely positioned to fight the fraud charges the government has filed against it.
Conclusion: Goldman suckered and robbed the people, pocketed the cash and have paid off enough people to never be held accountable for the scam.

