o Chicago e News o Tag %C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8h Tag 325 esearchl%search9 Www F1
B Www %
e
r%C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8h6 Mortgage Find A Mortgage search3 Tag 2search5 Www C
3%search Mo Tag rtsearchage Www fin Mortagefindamortgage damo 325 r 325 tsearchg Tag age 0searchs Times ea Chicago rc Mortagefindamortgage h Www C%C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8% 325 Esearch% Tag 7%C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8C5searchB Mortagefindamortgage %searchEsearchCE%E8dsearchcmsearchn News s Mortagefindamortgage m%C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8de News csearche Tag rsearcht%C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8a 325 asearchl 325 o News Www a 325 325 a
l Www d Chicago tsearche Www t%C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8nsearch searchn Mortagefindamortgage News osearchd Tag a Tag Sun a Tag %C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8nsearchtisearchl Chicago y Sun a Tag t Chicago d Sun o News Www t%C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8 News esearcha 325 f Chicago Gosearchd Sun a 325 Sun a Www b Times e 325 Www esearchu Chicago e Sun t Chicago br Chicago n Tag isearchhi
g Sun th %C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8eter News o Sun t Mortagefindamortgage e Www l Tag w Mortagefindamortgage asearchd Sun in Sun issearchi 325 g Mortagefindamortgage t
asearch Times t asearchh
research searcho News searchm News r
e Tag p
ac%C9%F1%BC%B6%C3%C0%C5%AE+%C7%C5%B1%BE%CE%E8i 325 e Times Www , wh Www csearch i Chicago notsearcht Www es Chicago msearch Mortagefindamortgage s e Www hi Times asearch r Chicago ncple Mortagefindamortgage
Goldman gave 8m documents to the SEC, but did not include the overarching philosophy that brought it to Abacus, the strategy laid out by Lloyd Blankfein, its chairman and chief executive, in 2005.
As Charles Ellis's The Partnership records, Mr Blankfein feared that if Goldman stuck to its traditional separation of agency and principal businesses – keeping its client advisory and asset management work isolated from risk-taking with its own capital – it would be overtaken by commercial banks.
“Its complex variety of many businesses was sure to have lots of conflicts,” Ellis writes. “Goldman Sachs, Blankfein said, should embrace the challenge of those conflicts.” It definitely embraced them with Abacus, keeping IKB in the dark both about Paulson and its own view of mortgage CDOs.