06/21/2011
https://www.congress.gov...
"OK. I am not sure everyone agrees with you on that, but I will take your answer."
"But the market-making business does not have the same disclosure rules as the other one does."
"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..."
"Isn't it true that you are a placement agent and as a placement agent you have a duty of full disclosure?"