The Wall Street Journal has an excellent piece telling the stories of several foreclosed homeowners whose mortgages were included in the infamous Abacus deal that has Goldman Sachs in hot water. The SEC charge is that Goldman sold investors a CDO based on other securities based on these mortgages, without mentioning that hedge fund magnate John Paulson had cherry-picked the mortgage pools for the CDO looking for those most likely to end in default and foreclosure, so he could bet against them. The Goldman pitchbook for the Abacus CDO is an interesting exercise in omission by misdirection.
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The SEC charge is that Goldman sold investors a CDO based on other securities based on these mortgages
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how about "early adopter community wants both new features (sure) but primarily a place which is smaller and cosier where they are amongst their own".
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Perhaps "new" in the current context, but in fact a very old idea. The old (pre 1970s) model of bank regulation focused on restaining banks from competing against each other.
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