Sen. Richard Shelby: Limiting Derivatives 'Might Be a Good Idea'

The Senate Committee on Investigations recently released e-mails from Goldman executives suggesting that they positioned themselves in 2007 to make a fortune off the mortgage crisis.

"Sounds like we will make serious money," one executive wrote then of the situation.

Another 2007 e-mail from Goldman CEO Lloyd Blankfein referred to the company's plan to profit from so-called short sales, or bets that the market would go down.

"We lost money, then made more than we lost because of shorts," Blankfein wrote. "Also, it's not over."

Goldman Sachs said the committee "cherry-picked just four e-mails" and put them out of context.

VIDEO: Jake Tapper on Obamas Speech to Wall Street
null

The bank has pledged to vigorously defend its actions and will have a chance to do so Tuesday, when Blankfein will testify on Capitol Hill before a committee investigating the bank's actions as the real estate market came crashing down.
-- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598. -- This embed didnt make it to copy for story id = 10474598.
Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...