Goldman’s Abacus Pitch Book

Reuters found the pitch book for the Abacus package that Goldman Sachs is accused of packaging and pawning off on investors without them knowing the complex instrument was built to fail.

It’s mostly written in the language of institutional investing–which kind of underscores Goldman’s point about these being professional investors–and, as you might expect, there’s nothing that says another investor is betting that the whole package will go down in flames so he can collect the insurance on it.

But, for what it’s worth, it starts saying “subprime” a lot on page 56.

Abacus 2007-Ac1 Flipbook 20070226 Goldman’s Abacus Pitch Book