0 minute readSenator Tom Coburn had what he thought was irrefutable evidence. Goldman Sachs Group Inc. trader Josh Birnbaum had recommended betting against the stock of Bear Stearns Cos. in July 2007, just four months after his colleagues sold a $300m piece of “one [explicative deleted] deal” to hedge funds controlled by Bear Stearns, according to e-mails obtained by the Senate through a subpoena. To Coburn, an Oklahoma Republican, that meant Goldman Sachs was wagering against its own clients using inside information — the poor quality of the deal it sold Bear Stearns.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Latest Articles
What a 50-year-old letter says about accountability in homebuilding
Exactly 50 years ago this time of year, a 51-year-old man handwrote a four-page letter on a legal pad to his then 21-year-old son, one of seven children – six of them sons and one angel of a daughter – who was spending a semester studying in Dublin, Ireland. The letter’s narrative arc, now mostly […]
-
Four rules for underwriting secondary Texas markets in a slower cycle
-
ICE executives detail AI cybersecurity efforts through Project Glasswing
-
Home flipping slowed in early 2026 but investors saw returns tick up
-
Aging in place is reshaping housing demand — and most homes aren’t ready
-
Retirement plan participation reaches record high, but financial pressures persist
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
