Here are a few more snippets on Goldman Sachs and that fraud charge.
The Wall Street Journal reports that five senior Goldman executives, including the firm's co-general counsel Esta Strecher, sold $65.4m in stock in the months after Goldman received the Wells Notice from regulators that ultimately led to those fraud charges, and a 13% fall in the firm's share price.
According to InsiderScore.com, the share disposals represented 'the most active spate' of insider selling in 3 years. It remains unclear whether the stock sales could fall foul of insider trading rules, although Goldman clearly didn't believe that the Wells Notice was 'material' at the time it was received, as it would have disclosed it.
In the meantime, The New York Post reports that Eric Kolchinsky, the former Moody's Managing Director who was responsible for rating the CDO deal at the centre of the fraud charges, told the Senate Permanent Subcommittee on Investigations last week that he was unaware that hedge fund Paulson & Co was involved in putting together the transaction. 'It just changes the whole dynamic of the structure', he said, '(It was) something that I would have wanted to know'.
Finally, Bloomberg gives some idea of how much US lawmakers will be looking forward to questioning Goldman executives and staff at Tuesday's hearings. Senator investigator Jack Blum told the news agency that criticizing Goldman 'is going to be everybody's great moment. It's a parade you want to be in'.