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Brain -> Goldman Sachs Messages Show It Thrived as Economy Fell - NYTimes.com (4/24/2010 11:54:52 PM)
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FTA:
“Our investigation has found that investment banks such as Goldman Sachs were not market makers helping clients,” Mr. Levin said, referring to testimony given by Mr. Blankfein in January. “They were self-interested promoters of risky and complicated financial schemes that were a major part of the 2008 crisis. They bundled toxic and dubious mortgages into complex financial instruments, got the credit-rating agencies to label them as AAA safe securities, sold them to investors, magnifying and spreading risk throughout the financial system, and all too often betting against the financial instruments that they sold, and profiting at the expense of their clients.”
Goldman Sachs Messages Show It Thrived as Economy Fell - NYTimes.com
A Senate panel released messages Goldman Sachs executives sent in 2007 that appear to contradict its suggestion that it lost money on the housing market. Testimony will begin Tuesday on the firm’s role in the financial crisis.
http://www.nytimes.c7om/2010/04/25/business/25goldman.html
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