Look, we can't make the case that Goldman Sachs raped and murdered a girl in 1990, but by all appearances one could see that Goldman Sachs did in fact rape and murder a girl in 1990.
His description is very misleading. Every firm "bets against" its own positions, its called hedging.
The stuff about corrupt ratings (S&P, Moodys) is exactly true. That is where this whole fiasco fell apart.
Except ACORNs criminals over register voters so they can make more than they would have. When GS employees break the law they cause massive investment bubbles to burst threatening the entire global economy.