The Secrets To Goldman Sachs' Success: Contrary Bets, Predatory Lending, Government Connections, Offshore Tax Havens

The Secrets To Goldman Sachs' Success: Contrary Bets, Predatory Lending, Government Connections, Offshore Tax Havens

WASHINGTON -- In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.

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