Abacus So News Today

>> but the question i have is was this clearly illegal, or was this such uncharted terrain because these are new exotic products that there werent even laws written to cover this yet? >> no, no. fraud is fraud. clearly they lied to their clients. they sthed is a good thing to buy at the same time they were selling it short and helping mere paulson sell it short. so they obviously knew it was not a good thing to buy. they had the guy selling it short pick the mortgage instruments to put into this...