In revealed e-mails, Goldman chief says we ‘made more than we lost’ by betting against market
Goldman Sachs' top executives were aware that the company made money by playing against the US housing market, according to internal e-mails released Saturday.
The bank's chief executive Lloyd Blankfein wrote in November 2007 that the firm "didn't dodge the mortgage mess," but "made more than we lost" by betting against the housing market, the Associated Press reported.
The e-mail was one of several company documents subpoenaed by a Senate investigations panel. In many of the e-mails, Goldman executives brag about money they were making as the market crashed around them.
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