Goldman did caution about the conflict of interest in the offering documents

Reader comment on: Goldman Sachs Senate Hearing

Submitted by Lyle (United States), Apr 28, 2010 15:41

I found out that Goldman said in the offering documents that they "Goldman Sachs does not make any representation, recommendation or warranty, express or implied, regarding the accuracy, adequacy, reasonableness or completeness of the information contained herein or in any further information, notice or other document which may at any time be supplied in connection with the Transaction and accepts no responsibility or liability therefore. Goldman Sachs is currently and may be from time to time in the future an active participant on both sides of the market and have long or short positions in, or buy and sell, securities, commodities, futures, options or other derivatives identical or related to those mentioned herein. Goldman Sachs may have potential conflicts of interest due to present or future relationships between Goldman Sachs and any Collateral, the issuer thereof, any Reference Entity or any obligation of any Reference Entity."

source: http://www.nakedcapitalism.com/2010/04/leaked-goldman-presentation-on-abacus-trade.html"

So why did not the Goldman folks just tell the senators, we told the investors about this. Blankfein must have some pretty poor advisors about pr in this case.

Note: Comments are moderated by the editor and are subject to editing.

Comment on this item