Goldman Sachs to buy Start Mortgages

nytimes.com/reuters/business … ec-uk.html

Kensington owns Start . Peter Sutherland would therefore become Irelands biggest sub prime lender, he is chairman of Goldman Sachs.

To be honest, that article sounds like it could be an awful lot of hot hair. I simply cannot see Goldman wanting to buy a risky sub-prime lender unless they can snap it up for a song.

Start Mortgages is for sale separately from Kensington

thepropertypin.com/viewtopic … gages+sale

Goldman Sachs is not as immune from the Credit Crunch as is generally believed. They have accumulated quiet a bellyful of Level 3 assets.

I would guess that they are scouring the world for bargains to be had from the present credit fallout. Yes, they will pick up the likes of Kinsington for a song. In case we need reminding Level 3 Assets

https://i.l.cnn.net/money/2007/11/12/magazines/fortune/eavis_level3.fortune/level_3_assets_rising2.gif