Great piece from Andy Kroll at Mother Jones. Maybe this explains why the New York Post is reporting this morning that Goldman is looking for a quick settlement to the SEC case. They did not like the publicity Tuesday.
Daniel Sparks told Congress Tuesday he didn't expect a group of financial products to fail. Internal documents suggest he knew otherwise.
Sparks--whose overall evasiveness drew the ire of Senate investigations subcommittee chair Carl Levin (D-Mich.) and other lawmakers--replied:
"At the time we did those deals, we expected those deals to perform."
Numerous documents released by the subcommittee, however, indicate that Sparks, who left Goldman Sachs in the spring of 2008, and his former employer knew otherwise. And his testimony raises a serious question: whether he lied to Congress under oath.