So what's new from Wall Street? The Goldman Sachs emails? So the rogues cheered  as the housing market's decline  -- found joy in the misery of others? And  the rogues played a part  in creating that misery? Is that news?

Today's Washington Post reports that, "As the U.S. housing market began its epic fall nearly three years ago, top executives at Wall Street powerhouse Goldman Sachs cheered the large financial gains the firm stood to make on certain bets it had placed. ..for example, Goldman executive Donald Mullen predicted a windfall because credit-rating companies had downgraded mortgage-related investments, which caused losses for investors."

Yada, yada, yada. So what if the emails contradict  Goldman Sachs' statement that it was not trying to profit  from the decline of the housing market in 2007, but was just hedging  its bets?  

"Investment banks such as Goldman Sachs . . . were self-interested promoters of risky and complicated financial schemes that helped trigger the crisis," said Carl M. Levin (D-Mich.), chairman of the Senate panel. "They bundled toxic mortgages into complex financial instruments, got the credit rating agencies to label them as AAA securities and sold them to investors, magnifying and spreading risk throughout the financial system and all too often betting against the instruments they sold and profiting at the expense of their clients."

Yeah. So? And yeah, this week, Lloyd C. Blankfein,  Goldman Sachs head dude is coming to DC for a Senate sit down, and to pass some gas.

News Source: The Washington Post