Gregory Palm, co-general counsel of Goldman Sachs Group, defended his company Tuesday and told investors the government's suit against the Wall Street giant took him by surprise. Palm said his legal department spent the past 18 months talking and providing records to the SEC. The complaint alleges that the company misstated and omitted key facts about a financial product tied to subprime mortgages, as the U.S. housing bubble was beginning to burst in 2007. Palm said Goldman was "disappointed" by the charge.
Goldman Sachs Co-GC Surprised, 'Disappointed' by SEC's Suit
April 21, 2010