Will "Goldman Penis Envy" Crash the Economy Again?

GameStop captured the public imagination, but the more dangerous sequel, Archegos, is being downplayed

Nearly fifteen years ago, on December 10, 2006, the CEO of Senderra, a subprime mortgage lender owned by Goldman, Sachs, sent a grim report to its parent company. “Credit quality has risen to become the major crisis in the non-prime industry,” Senderra CEO Brad Bradley wrote, adding that “we are seeing unprecedented defaults and fraud in the m…

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