the allegations are contained in the 639-page report on the larger crisis in goldman s role in it. according to the report, investigators found evidence that goldman s sales people were peddling securities to clients based on shaky mortgages, mortgages they knew were shaky. at the same time traders were betting those securities would blow up. last april, senator levin asked the mortgage head about one called timber wolf. take a look. june 22 is the date of this e-mail. boy, that timber wolf was one [ bleep ] deal. how much of that [ bleep ] deal did you sell to your clients after june 22, 2007? mr. chairman, i don t know the answer to that, but the price would have reflected levels that they wanted to invest oh, of course. but you didn t tell them you thought it was a [ bleep ] deal. i didn t say that. no? who did?
that those securities would blow up, basically a scam. last april, senator levin asked the mortgage head about one called timber wolf. that goldman insiders were e-mailing about. take a look. june 22 is the date of this e-mail. boy, that timber wolf was one [ bleep ] deal. how much of that [ bleep ] deal did you sell to your clients after june 22, 2007? mr. chairman, i don t know the answer to that, but the price would have reflected levels that they wanted to invest oh, of course. but you didn t tell them you thought it was a [ bleep ] deal. i didn t say that. no? who did? your people, internally. you knew it was a [ bleep ] deal. that s what your e-mail shows. i think the context, the message i took from the e-mail from mr. montag was that my performance on that deal wasn t good, and i think the fact that we had lost money related to that wasn t good. how about the fact that you
at the same time traders were betting the firm s own money that those securities would blow up, basically a scam. last april, senator levin asked the mortgage head about one called timber wolf. that goldman insiders were e-mailing about. take a look. june 22 is the date of this e-mail. boy, that timber wolf was one [ bleep ] deal. how much of that [ bleep ] deal did you sell to your clients after june 22, 2007? mr. chairman, i don t know the answer to that, but the price would have reflected levels that they wanted to invest oh, of course. but you didn t tell them you thought it was a [ bleep ] deal. i didn t say that. no? who did? your people, internally. you knew it was a [ bleep ] deal. that s what your e-mail shows. i think the context, the message i took from the e-mail from mr. montag was that my performance on that deal wasn t good, and i think the fact that
the 639-page report on the larger crisis in goldman s role in it. according to the report, investigators found evidence that goldman s sales people were peddling securities to clients based on shaky mortgages, mortgages they knew were shaky. at the same time traders were betting those securities would blow up. last april, senator levin asked the mortgage head about one called timber wolf. take a look. june 22 is the date of this e-mail. boy, that timber wolf was one [ bleep ] deal. how much of that [ bleep ] deal did you sell to your clients after june 22, 2007? mr. chairman, i don t know the answer to that, but the price would have reflected levels that they wanted to invest oh, of course. but you didn t tell them you thought it was a [ bleep ] deal. i didn t say that. no? who did? your people, internally. you knew it was a [ bleep ] deal.
you don t often hear the s-word repeated in a senate hearing, but the testimony was full of it earlier this week. did you hear senator carl levin question a goldman sachs mortgage guy? he wanted to know why they continued to sell timberwolf after it was bad mouthed in an e-mail. 2/2 2is the date of this e-mail. boy that timberwolf was one [ bleep ] deal. how much of that [ bleep ] deal did you sell to your clients after june 22, 2007? mr. chairman, i don t know the answer to that, but the price would have reflected levels that they wanted to invest in. oh, they don t know you didn t tell them you thought it was a [ bleep ] deal. i didn t say that. who did? your people, internally. you knew it was a [ bleep ]