05/18/2010
https://www.congress.gov...
"I guess really the question for Goldman Sachs is, are there times in which you recognize a conflict?"
"Isn't it true that you are a placement agent and as a placement agent you have a duty of full disclosure?"
"Right, but so let me ask again: Goldman sold a synthetic collateralized debt obligation without disclosing that a hedge fund manager, John Paulson, helped design the CDO and was betting against the CD..."
"OK. I am not sure everyone agrees with you on that, but I will take your answer."