The Senate held another hearing on the financial crisis, this time turning the spotlight on Goldman Sachs. A Securities and Exchange Commission (SEC) lawsuit has accused the Wall Street firm of fraudulently misrepresenting one of its mortgage-related products, but during hours of televised questioning, executives resolutely denied any wrongdoing. Trader Fabrice Tourre-who, along with the deal he structured, Abacus 2007-aci, is at the center of the SEC's allegations-was among those testifying, as wasrnGoldman CEO Lloyd Blankfein. Elsewhere on the Hill, afterrnrepeatedly blocking debate of the Democrats'financial-reform bill, Senate Republicans tentativelyrnagreed to move forward.
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