Goldman Trader ‘Hedging’ Means ‘Conflict’ to Senator

Bloomberg – Senator 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 $300 million piece of “one shitty deal” to hedge funds controlled by Bear Stearns, according to e-mails obtained by the Senate through a subpoena.

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