Under Fire

Goldman CEO to Face Senate Tuesday

Goldman Sachs CEO Lloyd Blankfein will get to argue his side of the story Tuesday: The much-maligned executive will testify before the Senate Permanent Subcommittee on Investigation, where Politico reports that he’ll deny that his firm bet against the U.S. housing market and its own clients in 2007 and 2008. The Senate committee has been investigating the origins of the financial crisis and released emails over the weekend that it claims prove that Goldman wagered against the housing market. “Many Americans are skeptical about the contribution of investment banking to our economy and [are] understandably angry about how Wall Street contributed to the financial crisis,” Blankfein will reportedly say. “As a firm, we are trying to deal with the implications of the crisis for ourselves and for the system.”