{"id":6239,"date":"2010-07-01T16:05:43","date_gmt":"2010-07-01T21:05:43","guid":{"rendered":"http:\/\/blogs-devl.bu.edu\/bunow\/?p=6239"},"modified":"2011-01-20T14:02:44","modified_gmt":"2011-01-20T19:02:44","slug":"goldman-executives-questioned","status":"publish","type":"post","link":"https:\/\/blogs-devl.bu.edu\/bunow\/2010\/07\/01\/goldman-executives-questioned\/","title":{"rendered":"Goldman executives questioned"},"content":{"rendered":"<p><img class=\"alignright size-full wp-image-6241\" src=\"http:\/\/blogs-devl.bu.edu\/bunow\/files\/2010\/07\/Financial-Crisis-Inquiry-Comission.bmp\" alt=\"Financial Crisis Inquiry Comission\" \/>The Congressionally appointed <a title=\"Financial Crisis Inquiry Commission\" href=\"http:\/\/www.fcic.gov\/\" target=\"_blank\">Financial Crisis Inquiry Commission<\/a> exploring the 2008 crash <a title=\"questioned\" href=\"http:\/\/www.marketwatch.com\/story\/financial-crisis-panel-takes-goldman-sachs-to-task-2010-07-01?reflink=MW_news_stmp\" target=\"_blank\">questioned<\/a> executives from <a title=\"Goldman Sachs\" href=\"http:\/\/www2.goldmansachs.com\/\" target=\"_blank\">Goldman Sachs<\/a>, the world&#8217;s most profitable bank, about how much it makes trading derivatives &#8212; those complex financial bets that helped bring down the economy.\u00a0 Goldman Chief Financial Officer <a title=\"David A. Viniar Profile\" href=\"http:\/\/people.forbes.com\/profile\/david-a-viniar\/37701\" target=\"_blank\">David Viniar<\/a> said they had no way of determining its derivatives data separately from trading in cash securities.\u00a0But <a title=\"Mark Williams\" href=\"http:\/\/smgnet.bu.edu\/mgmt_new\/profiles\/WilliamsMark.html\" target=\"_blank\">Mark Williams<\/a>, a former <a title=\"Board of Governors of the Federal Reserve\" href=\"http:\/\/www.federalreserve.gov\/\" target=\"_blank\">Federal Reserve <\/a>bank examiner who teaches finance in the <a title=\"School of Management\" href=\"http:\/\/management.bu.edu\" target=\"_blank\">School of Management<\/a> and is author of &#8220;<em><a title=\"Uncontrolled Risk\" href=\"http:\/\/www.uncontrolledrisk.com\/\" target=\"_blank\">Uncontrolled Risk<\/a><\/em>&#8221; about the fall of <a title=\"Lehman Brothers\" href=\"http:\/\/www.lehmanbrothers.com\/\" target=\"_blank\">Lehman Brothers<\/a>, says he doesn&#8217;t buy it.<\/p>\n<p><em>\u201cFor Goldman&#8217;s CFO to go before the Financial Crisis Inquiry Commission and claim he doesn&#8217;t know what Goldman makes in derivatives trading is the equivalent of a major league pitcher not knowing his ERA.\u00a0 <em>Such a claim is shocking given how lucrative and central derivatives trading is to Goldman&#8217;s core business model.&#8221;<\/em><\/em><\/p>\n<p>Contact Mark Williams, 617-358-2789, <a href=\"mailto:williams@bu.edu\">williams@bu.edu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Congressionally appointed Financial Crisis Inquiry Commission exploring the 2008 crash questioned executives from Goldman Sachs, the world&#8217;s most profitable bank, about how much it makes trading derivatives &#8212; those complex financial bets that helped bring down the economy.\u00a0 Goldman Chief Financial Officer David Viniar said they had no way of determining its derivatives data [&hellip;]<\/p>\n","protected":false},"author":114,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4491],"tags":[3304,3202,943,3267,957,3270,2869,577,3306,2641,3305,2690,91,2835,1530,2834,3246],"_links":{"self":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6239"}],"collection":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/users\/114"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/comments?post=6239"}],"version-history":[{"count":10,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6239\/revisions"}],"predecessor-version":[{"id":7677,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/6239\/revisions\/7677"}],"wp:attachment":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/media?parent=6239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/categories?post=6239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/tags?post=6239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}