Goldman Sachs Credit-Default Swaps Jump as Levin Claims Bank Duped Clients
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Goldman Sachs Credit-Default Swaps Jump as Levin Claims Bank Duped Clients
By Mary Childs
The cost to protect debt issued by Goldman Sachs Group Inc. (GS) jumped to a one-month high after the chairman of the Senate panel that investigated the financial crisis said the bank misled clients and Congress about investments in securities tied to mortgages.
Credit-default swaps on the New York-based company climbed 5.6 basis points to 116.9 basis points at 8:50 a.m. in New York, according to data provider CMA. That’s the highest level since 118.1 basis points on March 17.
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