Goldman Sachs execs deny wrongdoing
Goldman Sachs executives denied all fraud allegations while being grilled by a Senate panel on Capitol Hill earlier this week.
In the course of a heated 10-hour hearing, senators questioned executives about accusations that the company bet against the housing market while selling bad mortgage-backed securities to its clients.
Goldman Sachs CEO Lloyd Blankfein testified last, denying any wrongdoing. Blankfein, however, offered that the company shares "some burden for overleveraging that took place in this country."
Exasperated senators accused executives of operating out of greed and turning investment into a Las Vegas-style casino.
The Securities and Exchange Commission filed a civil fraud suit against Goldman Sachs earlier this month.