Fantasy Island by Ed Morales

Fantasy Island by Ed Morales

Author:Ed Morales
Language: eng
Format: epub
Publisher: PublicAffairs
Published: 2019-09-09T16:00:00+00:00


We interviewed the lead banker on Goldman’s Puerto Rico team in 2005, who was identified by GDB management and in contemporaneous documents, as having proposed the legislation or advocated for the Swaps. When we asked this senior Goldman investment banker if he was involved in drafting or commenting on the 2005 legislation, he told us he did not recall. We also asked him if someone on his team would have been designated to comment on or draft the legislation. He told us he did not recall. When we asked the senior Goldman investment banker about the GO Basis Swaps specifically, he told us he did not recall the specifics of any Swap transaction, including where an Issuer received upfront money as part of a Swap, and did not recall any pitches Goldman made in connection with a Swap.



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