WASHINGTON (AP) - Eleven hours of grueling, sometimes combative exchanges between senators and Goldman Sachs executives has ended on Capitol Hill with analysts and investors suggesting the firm survived.
The CEO of Goldman Sachs testily defended his company under blistering criticism. Lloyd Blankfein told skeptical senators that customers who bought securities from Goldman before the financial meltdown came looking for risk "and that's what they got."
Lloyd Blankfein and other Goldman executives were lambasted by lawmakers for "unbridled greed."
Unrepentant present and past Goldman officials unflinchingly stood by their conduct before a Senate investigatory panel. The firm was charged with civil fraud last month.
Goldman's stock rose $1.01 per share on the same day in which the Dow had its worst drop in nearly three months, down 213 points.
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