Goldman Sachs will come in for harsh criticism from an influential US Senate report into the financial crisis that will highlight alleged conflicts of interests in the bank’s dealings with clients, according to people familiar with the matter.
Goldman on Tuesday released a long-awaited list of internal changes that it hoped would help to put its recent controversy behind it.
As part of the reforms, Goldman revealed that it had lost more than $15bn on investments with its own capital in 2008 – a previously undisclosed figure that supports the bank’s contention that it did not profit from the financial meltdown.
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