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Goldman execs say bank played no role in financial collapse

By Jay Heflin - 04/27/10 01:23 PM ET

Goldman Sachs executives appearing before the Senate investigations committee said their bank played no role in the collapse of the financial market. 

"We did not cause the financial crisis," said Michael Swenson, a managing director at the firm. "I do not think we did anything wrong." 

Former Goldman partner Daniel Sparks echoed a similar sentiment, saying "risk overall wasn't respected across the industry... We were a participant in an industry that got loose." 

Sen. Mark Prior (D-Ark.) disagreed. 

"I do not think you all are taking full responsibility," he said. 


Source:
http://thehill.com/blogs/on-the-money/banking-financial-institutions/94589-goldman-execs-dodge-question-on-banks-role-in-financial-collapse

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