@finarvo: In 2010, Goldman Sachs was accused of misleading clients during the financial crisis by selling them mortgage-backed securities while simultaneously betting against those same products. The controversy centered on a deal known as Abacus, where Goldman helped package subprime mortgages that were likely to fail, sold them to investors, and then took positions that profited when they collapsed. During a tense Senate hearing, Senator Carl Levin confronted CEO Lloyd Blankfein, accusing the firm of “selling junk” to clients while secretly wagering against it—an exchange that became a defining moment in public anger toward Wall Street after the crisis. Credit: AP Archive (YT) #finance #investing #financenews #wallstreet #goldmansachs

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Saturday 24 January 2026 07:54:14 GMT