Meet Andrew Cuomo:
- Andrew was Secretary of the US Department of Housing and Urban Development overseeing the largest mortgage insurance and securities operation in the world when it “lost” $17 billion in fiscal 1998 and $59 billion in fiscal 1999.
- On November 7, as the Attorney General of the State of New York, Andrew Cuomo announced he is subpoening Freddie and Fannie. (Cuomo Subpoenas Fannie, Freddie, Widening Loan Probe / By Karen Freifeld, James Tyson & Sharon L. Crenson – Bloomberg.com)
- At which point, Freddie and Fannie’s stock takes a dive:
FNM = Fannie Mae, FRE = Freddie Mac. DJ= Dow Jones, GS= Goldman Sachs, CEF = Central Fund of Canada (precious metals)
- Meanwhile, Goldman Sachs and Lehman insist that they are untouched by mortgage market losses. (Goldman Sachs Rakes in Profit in Credit Crisis / By Jenny Anderson – New York Times – 19 Nov 2007)
- Meanwhile, Goldman Sachs (presumably through their asset management division) is listed as one of Freddie Mac’s largest shareholders
- And Freddie announces it has hired Goldman and Lehman as advisors. (Freddie Mac Bleeding $2 Billion, Needs Cash / By Marcy Gordon – Seattle Times – 21 Nov 2007)
- Here is the Goldman Sachs donation(s) listed for Cuomo’s 2006 race for Attorney General at Follow the Money.
Are we surprised that Goldman is doing well on a crashing dollar, a manipulated gold market and a busting housing bubble?
Well, look how well they did on 9-11:
Goldman Sachs 2001 stock chart
