Monday, August 2, 2010

Sachs salty email about ‘shitty deal’ gave senator a field day

Goldman Sachs Group Inc. has banned cursing in e-mails sent by its employees, the Wall Street Journal reported last week.

The change comes after the Wall Street bank agreed to pay $550 million to settle civil fraud charges stemming from from the sale of securities that were memorably described in a salty e-mail that was repeatedly referred to in a congressional hearing this year.

The e-mail, referring to a "shitty deal," offered a field day to Rep. Carl Levin, D-Mich., who repeatedly used the language to excoriate Goldman officials in the April hearing. Presumably that embarrassing episode is a major reason Goldman has banned such language in future e-mails.

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