A US Senate investigative panel has released several emails that could prove embarrassing to Goldman Sachs as they suggest the Wall Street investment giant used the US sub-prime mortgage crisis to make tens of millions of dollars in profit.
The documents, made public Saturday, do not provide proof that the investment bank broke the law, but they do show that its executives sought to make a killing on the crisis that erupted in 2007.
The revelations come at a bad time for Goldmans Sachs, which seeks to improve its image in the wake of fraud charges leveled against it by the federal government. AFP/yahoo
Goldman Sachs at Senate
According to pre-released testimony, the head of Goldman Sachs, Lloyd Blankfein, will admit that his bank failed to raise the alarm about excesses in the mortgage industry and got involved in "overly complex" derivatives deals that fuelled perceptions of Wall Street running out of control.
Blankfein will tell the committee that the Securities and Exchange Commission's $1bn (£647m) fraud case against his firm marks a low point in his career. Guardian
Ex-dictator Noriega jailed in France
PARIS - A French judge ordered former Panamanian dictator Manuel Noriega jailed Tuesday pending a trial for money laundering, a decision made only hours after Noriega was extradited from the United States following two decades in a Miami prison. Seattlepi
Note: another murder, Pinochet, was freed thanks to England.
