Economy

April 26, 2010 5:10 PM

Senate probe: Goldman misled clients and nation — and made billions

Senate investigators said Monday that Goldman Sachs reaped "billions and billions of dollars" by betting that the U.S. housing market would collapse, a finding that contradicts Goldman Sachs CEO Lloyd Blankfein's claims that his firm did not massively "short" the subprime mortgage securities market. Sen. Carl Levin, D-Mich., said an 18-month investigation shows that Goldman "repeatedly put its own interests and profits ahead of the interests of its clients."

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