Professor Hillman Comments on Goldman Sachs Hearings for Bloomberg.com
Professor Robert Hillman commented for Bloomberg.com on the recent Senate subcommittee hearing in which Goldman Sachs Group executives were questioned for the more than 10 hours in the wake of a suit filed by the Securities and Exchange Commission alleging that the company misled investors.
"Both sides got what they wanted," Professor Hillman said of the much-publicized hearing. "The Senate probably did what it felt it had to do, which was bring Goldman people up and embarrass them. For Goldman, the goal was to demonstrate that they had not engaged in fraud or illegal conduct. They probably succeeded in that."
Robert Hillman is a Professor of Law and holds the Fair Business Practices and Investor Advocacy Chair at UC Davis School of Law. He is a scholar in the fields of international transactions, securities regulation, and corporate and partnership law.