Goldman Bans Swearing in Emails

Goldman Sachs apparently has a new rule: no curse words in emails, texts, or IMs

A collection of emails released by a US Senate panel suggests that the Goldman Sachs investment bank planned to take advantage of the subprime mortgage crisis as early as 2007.

I can now add to the long list of reasons I won’t let my kids watch C-SPAN the following: those Senators are nasty!

Reuters - Emails sent by Goldman Sachs Group Inc's executives on money the firm made by betting against risky mortgage securities highlight the need for transparency in financial markets, senior White House adviser Lawrence Summers said on Sunday.

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.

Felix Salmon submits: I am awed by Carl Levin’s ability to orchestrate press coverage of Goldman Sachs (GS) of late.

Goldman Sachs executives boasted about the money the bank made while the US housing was collapsing, emails show.

Wall Street titan Goldman Sachs made huge profits during the financial meltdown through subprime, or higher-risk, mortgage backed securities that have been linked to the origin of the crisis, Senator Carl Levin said on Saturday."These emails show that, in fact, Goldman made a lot of money by betting against the mortgage market," said Levin in a statement alongside the internal messages that were released ahead of a hearing next week focusing on the role of investment banks in contributing to the crisis.