Ikb Bet Wrong News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Appear to today. >> reporter: this is head fund manager paulson, he bet that jack and thousands of other americans would not be able to pay their mortgages. paulson bet right and made a billion dollars. this is goldman sachs the nation's most prestigious investment firm. goldman sachs set up the bet for john paulson. jack's house was one of the cards, and goldman sachs was supposed to be shuffling the deck. german bank ikb bet that jack and thousands of other homeowners could pay their mortgages. ikb bet wrong and lost $150 million. this is the u.s. securities and exchange commission. it said ...

Supposed to be shuffling the deck. ikb bet wrong and lost 150 million. this is the u.s. securities and exchange commission. it says goldman sachs committed fraud by letting paulison pick cards at the gambling table. >> allegations are that they sort of loaded the dice, and stacked the deck by designing a portfolio that was weaker than average. >> reporter: i.k.b. is not considered a victim in king county, washington. they bought one of investments ikb was selling and lost more than $20 million. these are king county's libraries, also victims of that losing bet. >> we did have to scale back the...

Could pay their mortgages. ikb bet wrong and lost $150 million. this is the u.s. securities and exchange commission. it says goldman sachs committed fraud by letting paulson pick the cards at the gambling table without telling ikb. >> allegations against goldman sachs are that they sort of loaded the dice, stacked the deck, by designing a portfolio that was weaker than average. >> reporter: the s.e.c. says ikb was a victim, but ikb is not considered a victim in king county, washington, home to seattle. king county bought one of the investments ikb was selling. it lost more than $20 million. an...