SEC, Congress and FIRA Investigating Whether Wall Street Firms Put Self-Interest Ahead of Clients’ Interests
 December 24, 2009 — “Goldman Sachs and other Wall Street firms maintain there is nothing improper about synthetic collateralized debt obligations – or CDOs –
saying that they typically employ many trading techniques to hedge investments and protect against losses,” report Gretchen Morgenson and Louise Story in The New York Times.
“But Goldman and other firms eventually used the CDOs to place unusually large negative bets that were not mainly for hedging purposes, and investors and industry experts say that put the firms at odds with their own clients’ interests.” Continue reading…
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