Goldman Sachs won almost every bond auction from 2007 to 2011 - report
Goldman Sachs is at the heart of a Justice Department investigation into suspicious bond auction bids over a period of four years, according to the New York Post.
"The prices Goldman offered for Treasury bonds 'would be very close' but just above offers from other banks, and typically arrived 'at the end of the auction,'" according to the report.
Investigators are looking into price fixing and collusion and also includes traders from Deutsche Bank, Royal Bank of Scotland, UBS, and BNP Paribas.
The report says major investors and central banks were concerned that banks were front-running their own customers and that's led to a separate class action lawsuit. The customers eventually resorted to direct bids.
Gary Cohn was the #2 person at Goldman Sachs at the time and oversaw bond auction operations.
