In “Wall Street CEOs defend pay practices” you will read one of the best similes for what Goldman Sachs did when it sold mortgage-backed securities and then bet against them in the market.

Phil Angelides is Chairman of the Financial Crisis Inquiry Commission which is investigating the causes of the financial crisis of 2007–2010.

“I’m just going to be blunt with you,” Angelides told Lloyd Blankfein, CEO of Goldman Sachs. “It sounds to me a little bit like selling a car with faulty brakes and then buying an insurance policy on the buyer of those cars.”