0 minute readAn Australian hedge fund manager said it has filed a lawsuit against Goldman Sachs Group seeking more than $1bn in damages after losing money in troubled mortgage-linked securities. Basis Capital’s Basis Yield Alpha Fund alleges it was defrauded when it purchased $78m of the Timberwolf synthetic collateralized debt obligations (CDOs) being sold by Goldman in June 2007. The Sydney-based hedge fund manager said in the suit that Goldman knew at the time that the securities were doomed as the mortgage market began to show cracks.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio