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SEC Investigation of Goldman Trading Against Its Clients Widens

By Implode-Explode Heavy Industries

"The latest shoe to drop on the Goldman front is the report on Wednesday that the SEC was investigating yet another one of its synthetic CDOs, this one a $2 billion confection called Hudson. It isn?t clear whether the SEC will file charges, but this one has the potential to be particularly damaging in the court of public opinion, since this CDO was created solely as a proprietary trading position to help the firm get short subprime risk in late 2006, when the market was clearly on its last legs."

Full post as published by Mortgage Lender Implode-o-Meter on June 10, 2010 (boomark / email).