Friday, April 23, 2010

The Inside Story at Goldman Sachs...?

Is this the inside story about what really happened at Goldman Sachs...?

Tetsuya Ishikawa worked for Goldman Sachs until 2007 when he joined Morgan Stanley. Ishikawa’s name appears on the preliminary term sheet for the Abacus 2007-AC1 deal, a collateralized debt obligation (CDO) the US Securities and Exchange Commission accuses Goldman Sachs of using to commit fraud. I found this quote from Ishikawa’s book intriguing:
Well aware of the orgy of scape-goating that the world had embarked upon, I didn’t want to blame anyone, let alone run the risk of over-burdening some and under-burdening others with responsibility for the crunch. After all, I’m not one to say who’s guilty or not, and ultimately it doesn’t help us to move on anyway. (2009, pp. 2-3)
Follow the link below to learn more.

How I Caused the Credit Crunch

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