Today’s NY Times had an interesting article on Goldman Sachs. They were actually pretty shrewd in that they got out of the way, while Merrill Lynch, Citicorp, etc., did not. Goldman Sachs was getting out of the mortage-backed-securities business a while back and hedging the few investments they kept. As a result they do not believe they will have ANY losses on their MBS portfolio.
Gotta hand it to Goldman Sachs…they saved their shareholders some grief.
