Senate report hits Goldman

first_img whatsapp Senate report hits Goldman KCS-content Tags: NULL A US senate panel yesterday accused Goldman Sachs of misleading clients and manipulating markets in the most damning official report so far on Wall Street’s role in the financial crisis.Carl Levin, chairman of the senate permanent subcommittee on investigations, tore into Goldman at a press briefing on his panel’s 639-page report, which is based on a review of tens of millions of documents over two years. Levin accused Goldman of profiting at clients’ expense as the mortgage market crashed in 2007. “In my judgment, Goldman clearly misled their clients and they misled Congress,” he said.A Goldman Sachs spokesman said: “While we disagree with many of the conclusions of the report, we take seriously the issues explored by the subcommittee.”The report also criticised Deutsche Bank and credit rating agencies Moody’s and Standard & Poor’s.“Blame for this mess lies everywhere – from federal regulators who cast a blind eye, Wall Street bankers who let greed run wild, and members of Congress who failed to provide oversight,” said Republican senator and report co-author Tom Coburn.Levin said he would refer the matter to the US Justice Department and the Securities and Exchange Commission.Lloyd Blankfein, chief executive of Goldman Sachs, saw his bank criticised by a senate panel yesterday Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Show Comments ▼ Wednesday 13 April 2011 9:02 pmlast_img

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