0 minute readSenator Tom Coburn had what he thought was irrefutable evidence. Goldman Sachs Group Inc. trader Josh Birnbaum had recommended betting against the stock of Bear Stearns Cos. in July 2007, just four months after his colleagues sold a $300m piece of “one [explicative deleted] deal” to hedge funds controlled by Bear Stearns, according to e-mails obtained by the Senate through a subpoena. To Coburn, an Oklahoma Republican, that meant Goldman Sachs was wagering against its own clients using inside information — the poor quality of the deal it sold Bear Stearns.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Latest Articles
How Paris Hilton demonstrated an age-old accounting principle and why this matters for clients
Business theory IRL
As I like to share with my MBA graduate students, the principles of our classes are not just theory. They have real-world (or, as my Gen. Z students say, IRL (in real life)) implications.
-
Making the 7-day refi reality: Why now Is the time to modernize the mortgage process
-
Affordability-first search: Why patent revival puts real estate at a crossroads
-
Here’s why non-QM earned its place at the mortgage dinner table
-
The future of QC: AI, innovation and the human element
-
The path to automation
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
