Goldman 'banksters': we did nothing wrong - papers

clock

Goldman Sachs' chief executive Lloyd Blankfein yesterday denied his bank contributed to the US financial crisis by betting some of its own investment products would fail.

Blankfein and other executives at the Wall Street giant were accused by a US Senate panel of acting unethically, while Americans lost jobs and homes. Mr Blankfein said clients came looking for risk "and that's what they got". The hearing comes as the US Congress considers the most sweeping reform of the financial industry since the 1930s. During hours of hostile questioning on Tuesday, Goldman executives were accused of marketing some investments that the bank's own staff dismissed as "junk", writes the BBC. The highly charged hearing saw fierce argument and occasional obsceniti...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

OBR independence 'a major advantage' for UK economy

OBR independence 'a major advantage' for UK economy

Treasury Committee hearing

Alex Sebastian
clock 20 May 2026 • 4 min read
Bank of England warns of future rate uncertainty after vote to hold at 3.75%

Bank of England warns of future rate uncertainty after vote to hold at 3.75%

One vote to hike rates

Michael Nelson
clock 30 April 2026 • 2 min read
Navigating an uncertain environment: Applying a disciplined, data-driven approach

Navigating an uncertain environment: Applying a disciplined, data-driven approach

'​Looking ahead, the fundamental case remains constructive'

Fahad Hassan
clock 28 April 2026 • 2 min read