Again, from a news source outside US
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Goldman told clients to short bonds it helped sell: report
By Tom Bemis
LONDON (MarketWatch) -- Goldman Sachs (GS:
Goldman Sachs Group, Inc.)
proposed that some of its clients bet against California bonds it had collected millions of dollar in fees to help bring to market, according to a published report Tuesday. Goldman made the pitch in a document obtained by ProPublica, a non-profit investigative journalism organization, and the Los Angeles Times which published a joint-bylined story on the practice Tuesday. Goldman's actions were not illegal, according to the report, but the company has stopped suggesting the trading strategy to its clients, a spokesman told the news organizations. End of Story
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Goldman told clients to short bonds it helped sell: report
By Tom Bemis
LONDON (MarketWatch) -- Goldman Sachs (GS:
Goldman Sachs Group, Inc.)
proposed that some of its clients bet against California bonds it had collected millions of dollar in fees to help bring to market, according to a published report Tuesday. Goldman made the pitch in a document obtained by ProPublica, a non-profit investigative journalism organization, and the Los Angeles Times which published a joint-bylined story on the practice Tuesday. Goldman's actions were not illegal, according to the report, but the company has stopped suggesting the trading strategy to its clients, a spokesman told the news organizations. End of Story