Daily Archives: April 22, 2010

John Gapper

Was it Goldman’s fault that IKB, the German bank, lost $150m on the controversial Abacus deal, or should IKB take all the blame itself?

My column in today’s FT argues that Goldman had an ethical, even if not a legal, responsibility to warn IKB that it thought the subprime mortgage market was in trouble when it executed the CDO in early 2007. The SEC has accused Goldman of securities fraud. Read more