Going, Going, Goniff at Goldman Sachs

December 14, 2007 (LPAC)--Goldman Sachs was short-selling subprime paper on its own account, while suckering its clients into buying the garbage.

That's how Goldman Sachs became the only one of the major Wall Street investment firms to come out on top of the subprime crisis, according to today's edition of the Wall Street Journal, which, of course, praises the firm for its trading acumen.

Three top traders in the mortgage department are expected to be rewarded with bonuses of between $5 and $15 million for their efforts. But, in today's fast-changing market, don't bet that the money will be there when they try to collect.