Goldman execs fire back against Senate

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Senators blasted Goldman Sachs executives over their role in the U.S. financial crisis, with one senator likening them to Vegas gamblers. WATCH LIVE

Goldman execs fire back CNNMoney
Key power players CNNMoney
Read their statements (PDF): Blankfein | Tourre | Swenson | Birnbaum | Viniar

NEW YORK (CNNMoney.com) — Top representatives from Goldman Sachs endured a fierce attack from lawmakers Tuesday about their business dealings leading up to the housing market collapse.

Senators peppered current and former executives of Wall Street’s top firm with sharp criticisms about its role in the financial crisis, as well as open-ended questions about some of its business dealings just as the U.S. economy was unraveling.

Goldman Sachs shares have struggled to recover since the SEC first filed civil fraud charges against the firm on April 16.

Goldman trader Fabrice Tourre, making his first appearance since the SEC’s fraud charges, defended himself at a Senate hearing.

“You had less oversight than a pit boss in Las Vegas,” said Sen. Claire McCaskill, D-Mo., a member of the Permanent Subcommittee on Investigations, the committee hosting Tuesday’s closely watched hearing.

“There is no doubt their behavior was unethical,” added Sen. John McCain. R-Ariz.

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