WASHINGTON (AP) — Top Goldman Sachs officials are finding no allies on a Senate panel investigating its role in the nation's financial crisis.
Democratic Sen. Carl Levin says the investment banking firm wreaked havoc on the economy. The committee chairman says Goldman's conduct "brings into question the whole system of Wall Street."
Sen. Susan Collins, the top Republican on the panel, said Goldman officials were celebrating the collapse of the housing market when the Americans were losing their homes and jobs.
Levin asked the former head of Goldman's mortgage department whether the company felt it had a moral obligation to disclose to clients that it was betting against the investments it was selling them.
Daniel Sparks responded that the clients "should look at the assets themselves."