(Goldman Sachs story updated for Monday trading losses; Senate, Goldman comments)NEW YORK ( TheStreet) -- A copy of Goldman Sachs ( GS) CEO Lloyd Blankfein's testimony scheduled for a Senate hearing on Tuesday shows a Wall Street CEO trying to reach out to the U.S. public, but at the same time refusing to bow to the argument that Goldman Sachs profited from the subprime mortgage crisis that sank the U.S. economy. Blankfein will describe the day of the Securities and Exchange Commission fraud charges against Goldman Sachs as "one of the worst days of my life" in his written testimony. However, on the most important point -- the allegations made by the SEC -- Blankfein is set to defend his firm, particularly against the claims that Goldman Sachs made massive profits from shorting subprime investments. The claims that Goldman profited heated up over the weekend when emails were released by the Senate purporting to show that Goldman itself wrote about the profits it made.
|Lloyd Blankfein, CEO of Goldman Sachs|