Goldman Sachs (GS) Says NYT Article Has "Grave Inaccuracies"

Goldman Sachs (NYSE: GS) issued a response to today's front page New York Times article "Clients Worried About Goldman's Dueling Goals."

Goldman said the article includes "grave inaccuracies, cites accusations from anonymous sources and is fundamentally misleading."

The firm said the article implies that it made a profit from positions the firm held in Washington Mutual, when in fact the firm had a net loss.

Also a fundamental premise of the story, that Goldman Sachs made a directional bet on the housing market, is wrong. Goldman said they lost $1.2 billion in its residential mortgages business during the 2007-2008 period.

Goldman was asked a series of questions, which they answered in the response.

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