daniel sparks goldman sachs

Sen. Carl Levin, pressing a Goldman Sachs trader about the sale of $600 million in questionable securities before the collapse of the nation’s financial markets, asked how long he was engaged in pitching a product that a superior called, well…

“”Boy, that Timberwolf was one s—-y deal.’ They sold that s—y deal,” Levin said today, reading from an internal Goldman Sachs memo.

The email was from the head of a division in late June 2007 to Daniel Sparks, the salesman on the hot-seat in the Senate’s committee hearing on Goldman Sachs.

“How much of that ’s—-y deal’ did you sell to your clients after June 22, 2007?,” Levin (D-Mich.) asked Sparks.

“I don’t know the answer to that, but the price would have reflected levels that they wanted to invest in at the time,” the Goldman Sachs employee testifying said. “I don’t recall selling hundreds of millions of that deal after that.”

The message he drew from the remark of the division chief, he said, was that his performance on the Timberwolf deal wasn’t good.

“I didnt use that term with respect to this deal,” Sparks said.

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