Goldman Sachs' chief executive Lloyd Blankfein yesterday denied his bank contributed to the US financial crisis by betting some of its own investment products would fail.
Blankfein and other executives at the Wall Street giant were accused by a US Senate panel of acting unethically, while Americans lost jobs and homes. Mr Blankfein said clients came looking for risk "and that's what they got". The hearing comes as the US Congress considers the most sweeping reform of the financial industry since the 1930s. During hours of hostile questioning on Tuesday, Goldman executives were accused of marketing some investments that the bank's own staff dismissed as "junk", writes the BBC. The highly charged hearing saw fierce argument and occasional obsceniti...
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