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How Goldman profited from subprime meltdown

“The group’s big bet that securities backed by risky home loans would fall in value generated nearly $4 billion of profits during the year that ended Nov. 30, according to sources familiar with the firm’s finances. Those gains erased $1.5 billion to $2 billion of mortgage-related losses elsewhere in the firm.”

Posted byDanny SilvermanJanuary 22, 2008June 17, 2008Posted inLink

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