The Faber Report

Questioning of Goldman Gets Heated


Other than an interesting repetition of the word sh**ty (note to keep kids away from Senate hearings), the questioning by Senator Collins is proving to be gripping.

At the heart of the question for so many clients of Wall Street firms: Do they have a right to expect as clients of a firm that their interests are paramount to that firm or secondary to the desires of the firm?

Senator Collins tried and failed to get a clear answer on the question from all but Mr. Birnbaum, eliciting gasps from those in attendance.


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