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Goldman may seek to counter Senate findings: report

Jun 7, 2011

Goldman Sachs Group Inc could
release documents to counter a Senate
subcommittee report that said the bank
misled clients about mortgage-linked
securities, the Wall Street Journal reported,
citing people familiar with the matter.
Goldman, facing probes by several
government authorities into derivatives
trades it executed in 2006 and 2007, could
release documents about its mortgage bets
to show the analysis by the subcommittee
was inaccurate and incomplete, the paper
said.
The information could be released soon on
Goldman's website, though a decision has
not been made yet, the paper added.
Goldman Sachs did not immediately respond
to requests seeking comment.
The subcommittee, headed by Democrat Carl
Levin, said Goldman offloaded much of its
subprime mortgage exposure to
unsuspecting clients when the market for
such securities was starting to tank.
Last week, Goldman received a subpoena
from the Manhattan district attorney, who
joined the Justice Department and the
Securities and Exchange Commission in
examining Goldman's actions.