Goldman Sachs Expected to Fight Back Against Senate Report

Investment bank Goldman Sachs

is expected to fight back against a damming Senate subcommittee report with the release of its own documents, the Wall Street Journal is reporting. The bank is responding to a subpoena it received last week from the Manhattan district attorney, which is looking into the bank's mortgage business. Similar investigations are being conducted by the Justice Department and Securities and Exchange Commission. According the Journal report, "The securities firm is considering releasing documents about its mortgage bets that are aimed at showing what Goldman officials claim is sloppy math and incomplete analysis by the Senate Permanent Subcommittee on Investigations as the panel sifted through tens of millions of documents turned over by Goldman." Headed by Democrat Carl Levin, the Senate subcommittee previously asserted to the Justice Department that Goldman got rid of toxic mortgage securities to unknowing clients. Goldman has denied any massive short on the housing market, and objected to complaints that it lied to its clients. Goldman Sachs is a global investment banking, securities and investment management company providing a range of financial services to a client base that includes corporations, financial institutions, governments and high-net-worth individuals.