From lmtribune.com
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Subprime Mortgages
How will subprime mortgages, and more importantly defaults of subprime mortgages impact the real estate market as well as the US economy as a whole?
EDITOR'S NOTE: In the 1980s and '90s, Goldman Sachs Group ran a staid residential mortgage operation that simply bought and sold loans. But in 2001, the elite investment bank leaped aggressively into the burgeoning subprime securities market that was becoming a fountain of money for its rivals.That year, Goldman Sachs sold $8.7 billion in subprime bonds, a third [...]
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