Goldman unloaded mortgage bonds on clients, e-mails show

04/28/2010 | Bloomberg Businessweek

Seeking to reduce exposure to a deteriorating housing market, Goldman Sachs ordered its sales force to eliminate risky mortgage-backed bonds by selling them to customers, internal e-mails show. CEO Lloyd Blankfein was among those who sent the messages. "Could/should we have cleaned up these books before and are we doing enough right now to sell off cats and dogs in other books throughout the division," Blankfein wrote in an e-mail Feb. 11, 2007.

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