Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Haim R. Branisteanu who wrote (72622)	2/24/2010 8:14:23 PM
From: Haim R. Branisteanu	of 74559

US Sen Grassley Presses Goldman On Bond Underwriting Fees By Michael R. Crittenden Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)--A top U.S. Senate Republican on Wednesday raised concerns about the fees Goldman Sachs Group Inc. (GS) is earning underwriting the government's Build America Bonds program. Sen. Charles Grassley of Iowa, the ranking GOP member of the Senate Finance Committee, said in a Wednesday letter to Goldman Sachs Chairman Lloyd Blankfein that he is worried that taxpayers are subsidizing larger underwriting fees to the benefit of Wall Street banks. "Are these underwriting fees larger than the underwriting fees that Goldman Sachs has charged on tax-exempt bond issuances? If so, how much larger are these underwriting fees?" Grassley asked in the letter. Grassley said he was encouraged to write the letter after Goldman Sachs identified itself as a "principal underwriter" of the bonds in a newspaper advertisement. -By Michael R. Crittenden, of Dow Jones Newswires;

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