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Detailed text transcripts for TV channel - CNN - 20100427:15:06:00

Subprime mortgage market suffered a broad collapse. goldman sachs also had no economic motive to design the ac-1 transaction to fail. quite the contrary, we held long exposure in the transaction just like aca, and just like ikb. when they referenced in value, we lost money, too, including $83 million with respect to the loan position. finally, aca selected the portfolio securities referenced in the transaction and not paulson. aca had sole authority to describe what securities would be reference...
Goldman Sachs Subprime Mortgage Market Bac 1 Lost Money Loan Position 83 Million

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