Current and former directors from Goldman Sachs testified about investment and trading activities of Goldman Sachs and other investment banks involving residential mortgage based securities and related products. Committee members asked several pointed questions about business practices at the firm, often referring to a large stack of electronic mail and other documents detailing communications about possible market manipulation and representations about products made to consumers. This hearing was the fourth in a series of subcommittee hearings examining some of the causes and consequences of the recent financial crisis.
GOLDMAN SACHS CHAIRMAN AND CEO
Senate Committee Homeland Security & Governmental Affairs | Investigations
Lloyd Blankfein testified about investment and trading activities of Goldman Sachs and other investment banks involving residential mortgage based securities and related products. In sometimes combative questioning senators asked about electronic mail and other communications by company officers indicating the firm was pushing the sale of risky .. Read More
Lloyd Blankfein testified about investment and trading activities of Goldman Sachs and other investment banks involving residential mortgage based securities and related products. In sometimes combative questioning senators asked about electronic mail and other communications by company officers indicating the firm was pushing the sale of risky derivatives while also betting against the products sold to clients. Mr. Blankfein responded by saying that clients came to the firm for risk, "and that's what they got." This hearing was the fourth in a series of subcommittee hearings examining some of the causes and consequences of the recent financial crisis.
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