S.E.C. Sues Goldman Over Housing Market Deal - NYTimes.com

S.E.C. Sues Goldman Over Housing Market Deal - NYTimes.com: "he instrument in the S.E.C. case, called Abacus 2007-AC1, was one of 25 deals that Goldman created so the bank and select clients could bet against the housing market. Those deals, which were the subject of an article in The New York Times in December, initially protected Goldman from losses when the mortgage market disintegrated and later yielded profits for the bank."