Michael Lewis on the Subprime Crash and Goldman Sachs

What’s odd about the subprime crash is Goldman Sachs Group Inc. A single firm took a position contrary to the rest of Wall Street. Giant Wall Street firms are designed for many things, but not, typically, to express highly idiosyncratic views in the market.

That’s from this commentary at Bloomberg by Michael Lewis… well worth a read. (Hat tip to Yves Smith.)