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Goldman Denies 'Bets Against Clients'

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IT'S NOT "BETTING" WHEN YOU KNOW THE OUTCOME
"Goldman Sachs will on Wednesday rebuff accusations that it “bet against” clients in the mortgage market at the height of the financial crisis in a letter to investors that contains the most robust defence yet of the bank’s actions during the ­turmoil," the FT reports. "In an eight-page introduction to Goldman’s 2009 annual report, Lloyd Blankfein, chief executive, and his number two, Gary Cohn, tackle claims that their company profited from the US housing debacle and the collapse of the insurer AIG."
SOURCE:   Financial Times

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