Goldman did not tell the purchasers that they were buying an interest in loans hand-picked by Mr Paulson, who took a very bearish view of the subprime market.
Instead, they feel, there was mounting criticism of their domestic affairs, disdain for their views on Iraq and resistance to the international ambitions of Russian companies.
I'd be happy to discuss with you, outside class, at greater length my favorite theories as to where the argument goes wrong and why I think it goes wrong in Descartes' case as well.
While these early historians of Southern dissent broke new ground, they also reproduced Confederate authorities' negative view of loyalists as shady characters driven by dubious motives.