Monday, April 18, 2011

Goldman's Tin Ear?

Apparently, the questions raised with Goldman Sachs in the Hearings a year ago before the Financial Crisis Investigations Committee and Senator Levin's sub committee will persist. Was Goldman "tin eared", a little less than candid or did they deliberately misrepresent facts? Both Levin's committee and the newly published Money and Power by William D. Cohan have concluded that there was in fact a “Big Short” at Goldman to cushion the losses occasioned by the write downs which had the effect of destroying other firms. The question now is – in what forums and to what effect will this issue continue to be raised?
Read the Levin-Coburn Committee Report - Wall Street & The Financial Crisis: Anatomy of a Fincial Collapse
More coverage from NYT DealBook - Finding Goldman at Fault in the Financial Crisis
April 18, 2011 in accountability , Financial Crisis Inquiry Commission , financial crisis , fiduciary duty , self-regulation , Corporate Power  |  0 comments  | 

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