The article I posted here is on the unethical role that Goldman Sachs played during the years leading up to the Wall Street crash of 2008, where they bundled together thousands upon thousands of sub prime mortgages and sold them of to pension funds and foreign financial institutions, with the knowledge that this product they were selling was seen as a “toxic waste”.  In addition to this, they bought insurance from AIG, which was to compensate Goldman Sachs if the whole thing toppled.

So my question would be, was it ethical of the top brass of Goldman Sachs to do this in order to clear its company from the danger and the potential bankruptcy that they knew could be at hand if they were stuck with their product, by selling the bundles and then betting against their own product?

Not only are people speculating the legality of this action, but thinking of the consequences of this, which was the bail out of AIG, which resulted in $12 billion of tax payers dollars being used to compensate Goldman Sachs. This action as a whole can be seen as a good example of how ethics are trampled when there is big money involved and your own “ass” is on the line.

Here is the main link: http://www.mcclatchydc.com/2009/11/01/77791/how-goldman-secretly-bet-on-the.html

And some further reading on the matter can be found: http://www.huffingtonpost.com/2011/01/26/goldman-sachs-aig-backdoor-bailout_n_814589.html