Goldman's act of kindness gets misinterpreted
Allegations that Goldman Sachs created a product to favour a hedge-fund client may have unfortunate repercussions for the hedge-fund industry, insofar as hedgies may now appear to be a 'historical root cause' of the crisis.
No good deed goes unpunished, as the saying goes.
One of the more surprising things about accusations that Goldman Sachs created a CDO specifically so that Paulson & Co could short via the instrument's credit-default swap, is that Goldman Sachs could do something so utterly nice for someone else. Better still, for one of its hedge-fund clients.
Such an act of unmitigated decency for a hedge fund, should make Goldman Sachs a shoo-in for AsianInvestor's Best Prime Broker title (not …
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