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McCaskill blasts Goldman execs at Senate hearing

By Adam Allington, St. Louis Public Radio

St. Louis – Senator Claire McCaskill, D-Mo., was among the lawmakers who blasted executives from Wall Street investment bank Goldman Sachs, as they testified before Congress Tuesday.

McCaskill accused Goldman of deceiving its clients by bundling securities that it thought would fail, and then selling those instruments as if they were good investments.

McCaskill said the bankers were nothing more than "bookies" taking bets.

"You have less oversight and less regulation...than a pit boss in Las Vegas," McCaskill said.

The Senate hearings have no legal bearing, however the Securities and Exchange Commission has filed fraud charges against Goldman Sachs.