goldman engaged in fraud essentially by deceiving investors and playing two hands. here is exactly what happened. this all involved mortgage-backed securities, investments in mortgage-backed securities and an investment pool put together to track a group of these mortgage securities, okay? so on the one hand goldman put together investors. now, they were buying into this investment based on the mortgage securities in subprimes, not high-quality mortgages, okay? on the other hand, goldman also was doing business with a giant hedge fund, paulson & company, and that firm was actually betting against some of these mortgage securities. goldman told the investors that a third party was picking the mortgages in this investment while, in fact, paulson, which was betting against these mortgage securities, was involved in selecting which mortgages were in there. so the sec is saying a conflict of interest here, a case of