Market Overview

Goldman Hid Information: Former Moody Executive (GS)


A former Moody’s executive said that Goldman Sachs (NYSE: GS) had hid the information about their collaboration with Paulson & Co. Eric Kolchinsky, a former team managing director at Moody’s, said, “I did not know that and I'm fairly sure that my staff did not know either."

Kolchinsky was testifying before the Senate Homeland Security and Governmental Affairs Committee. According to CNN, the committee is examining the role of credit rating agencies in the recent financial crisis.

Kolchinsky also said, “It is something I would have wanted to know. It changes the whole dynamic of the structure when the people who are choosing it want it to blow up”. Goldman Sachs (GS) has been accused of misleading investors by withholding the information related to its collaboration with Paulson & Co.

Posted-In: Moody's Paulson & Co.News Politics Economics Intraday Update


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