BUSINESS
06/06/2011 08:16 am ET | Updated Aug 06, 2011

Goldman Might Release Documents To Counter Senate Report

Goldman Sachs Group Inc could release documents to counter a Senate subcommittee report that said the bank misled clients about mortgage-linked securities, the Wall Street Journal reported, citing people familiar with the matter.

Goldman, facing probes by several government authorities into derivatives trades it executed in 2006 and 2007, could release documents about its mortgage bets to show the analysis by the subcommittee was inaccurate and incomplete, the paper said.

The information could be released soon on Goldman's website, though a decision has not been made yet, the paper added.

Goldman Sachs did not immediately respond to requests seeking comment.

The subcommittee, headed by Democrat Carl Levin, said Goldman offloaded much of its subprime mortgage exposure to unsuspecting clients when the market for such securities was starting to tank.

Last week, Goldman received a subpoena from the Manhattan district attorney, who joined the Justice Department and the Securities and Exchange Commission in examining Goldman's actions.

(Reporting by Renju Jose in Bangalore; Editing by David Holmes)

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