Goldman Sachs (GS) loses its bid to dismiss a $1B lawsuit over CDOs loaded with toxic subprime...

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Goldman Sachs (GS) loses its bid to dismiss a $1B lawsuit over CDOs loaded with toxic subprime mortgages it sold to an Australian hedge fund. One of the CDOs - Timberwolf - was famously described by Goldman mortgage department chief Thomas Montag as "one s------ deal."