Only Josh Birnbaum, now manager of hedge fund Tilden Park Capital Management, clearly said that Goldman's clients come first.
|Daniel Sparks, Josh Birnbaum, Michael Swenson and Fabrice Tourre. |
Photo: Andrew Harrer, Bloomberg.
Goldman Sachs executives faced tough questions on Capitol Hill today for alleged conflicts of interest in selling mortgage-backed securities that later failed.
In one tense back and forth, Senator Susan Collins (R-ME) asked each of the four Goldman Sachs representatives testifying if they “have a duty to act in the best interests of your clients.”
Only Josh Birnbaum, now manager of hedge fund Tilden Park Capital Management, clearly said yes.
“Not only do I believe we do, I believe we did,” said Birnbaum, a