Subprime Lending - Follow The Money

welcome mat Bloomberg News via International Herald Tribune (h/t to the Europe-touring Mike)

Treasury Secretary Henry Paulson says that the United States is examining the subprime mortgage crisis to ensure that "yesterday's excesses" are not repeated. He could be talking about himself and his former firm, Goldman Sachs.

Paulson does not mention that Goldman still has on the market an estimated $13 billion of almost $37 billion in bonds backed by subprime loans or second mortgages that it created while he was its chief executive.

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