WSJ:
Newly released emails show that Goldman Sachs Group Inc. trader Fabrice Tourre foresaw the meltdown of the subprime-mortgage market and compared the product he helped create to a "Frankenstein turning against his own inventor."
The new documents about Goldman Sachs also included some emails released by Senate investigators in which top Goldman executives cheered the gains they were reaping as subprime-mortgage securities collapsed in value in 2007.
Goldman released its own description of its involvement in the mortgage market, as well as a collection of emails. The firm said it didn't make the big profits some have described and didn't have any special information that caused it to know the U.S. housing market would collapse. Goldman said the Senate investigators cherry-picked emails to make a point, although the firm released some of the same messages.
The new information came ahead of a hearing Tuesday at which Goldman executives including Chief Executive Lloyd Blankfein will testify before the Senate Permanent Subcommittee on Investigations.
Goldman Sachs Emails -
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