Paul Krugman nobel laureate explains as goldman sacks, suck

One of the Confucius's laws of common sense says when Nobel laureate Paul Krugman speaks listen. Professor Paul Krugman a columnist for NYT and economist last week in his article talked about how Goldman Sacks is making lot of money and has made lot of money in trading in financial instruments it created .The business they are in is described by Paul as Securities, commodity contracts and investments.

They have made a lot of money by mixing risky and non risky assets and then selling them as lesser risky instruments .Then they shorted them as their value was plummeting and we were left holding the bag.Mr Krugman is clear that what Sacks does is bad for America period.

We have not made changes in the system and will pay for larger price in the future.Sad no body is paying attention to it.There were banks which were trading in credit risk insurance as if it was a commodity of its own and in the process multiplied the risk to the system.In realty actual risk was multiplied in this process.
It would be OK if Sack believed in this product they created .No instead they benefited by shorting these securities knowing well they it was sub par and shoddy product. Not only that they are in line to give largest bonus to its select employees when national economy is bleeding. http://www.nytimes.com/2009/07/17/opinion/17krugman.html?emt.
HATS OFF TO MR KRUGMAN FOR SUCH A BLUNT ARTICLE