Let the expletives fly.
Moments ago, Sen. Carl Levin (D-MI) had a swear-laced exchange with former Goldman Sachs partner Daniel Sparks during today’s Senate Permanent Subcommittee on Investigations hearing. The subcommittee is part of the Homeland Security and Governmental Affairs Committee.
“Boy,” Levin said, reading from an internal June 22, 2007 Goldman email, “that Timberwolf was one shitty deal.”
“How much of that shitty deal did you sell to your clients after June 22, 2007?” Levin asked Sparks.
“Mr. Chairman, I don’t know the answer to that, but the price would have reflected levels that they wanted to invest in at the time.”
Levin: But you didn’t tell them you thought it was a shitty deal.
Sparks: I didn’t say that.
Levin: No. Who did? Your people. Internally. You knew it was a shitty deal and that’s what your email shows.
Sparks tried to recast the meaning of that email — that it was his performance on the deal that wasn’t good, rather than the deal itself — but Levin was having none of it.
Goldman sold hundreds of millions of dollars on that product after the email was sent, Levin said, and selling it was a “top priority.”
“Should Goldman Sachs be trying to sell a shitty deal?” Levin demanded. “Can you answer that one yes or no?”
Sparks didn’t.
Watch:
