 During the 2007 subprime mortgage crisis, Goldman profited from the collapse in subprime mortgage bonds in summer 2007 by short-selling subprime mortgage-backed securities.Two Goldman traders, Michael Swenson and Josh Birnbaum, are credited with being responsible for the firm's large profits during the crisis.The pair, members of Goldman's structured products group in New York City, made a profit of $4 billion by "betting" on a collapse in the subprime market and shorting mortgage-related securities.