Goldman Sachs Group Inc officials discussed making serious money in 2007 off the subprime crisis as mortgages were starting to falter in rapid numbers, according to a collection of e-mails released by a Senate panel on Saturday.
Of course we didn't dodge the mortgage mess. We lost money, then made more than we lost because of shorts, Goldman Sachs Chief Executive Lloyd Blankfein said in an e-mail from November 2007.
Sounds like we will make some serious money, said Goldman Sachs executive Donald Mullen in a separate series of e-mails from October 2007 about the performance of deteriorating second-lien positions in a collateralized debt obligation, or CDO.
The Senate Permanent Subcommittee on Investigations is holding a hearing on Tuesday with Blankfein and other executives about the role Goldman Sachs played in the financial crisis. The firm has been sued by the Securities and Exchange Commission over its marketing of a CDO.
(Reporting by Dan Margolies and Karey Wutkowski; Editing by Tim Dobbyn)