0 minute readSenator Tom Coburn had what he thought was irrefutable evidence. Goldman Sachs Group Inc. trader Josh Birnbaum had recommended betting against the stock of Bear Stearns Cos. in July 2007, just four months after his colleagues sold a $300m piece of “one [explicative deleted] deal” to hedge funds controlled by Bear Stearns, according to e-mails obtained by the Senate through a subpoena. To Coburn, an Oklahoma Republican, that meant Goldman Sachs was wagering against its own clients using inside information — the poor quality of the deal it sold Bear Stearns.
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