Secret AIG Document Shows Goldman Sachs Minted Most Toxic CDOs

A five-page document that the New York Fed fought to keep from making public for more than a year shows that the banks that turned to AIG to insure against losses on collateralized debt obligations were in most cases the same institutions that underwrote the securities, according to a Feb. 23 Bloomberg story. The CDOs minted by Goldman Sachs were especially toxic, with losses in some cases...