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[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2010/images/04/28/smlvid_four_swearing_gi.jpg caption="Top Goldman Sachs representatives attempted to deflect criticism Tuesday from lawmakers about the firm's role in the financial crisis."]
Wall Street under fire: Senate vs. Goldman
(CNNMoney) -Top Goldman Sachs representatives - including CEO Lloyd Blankfein - attempted to deflect criticism Tuesday as they faced a blistering cross-examination from lawmakers about the firm's role in the financial crisis.
For more than ten hours, members of a Senate panel skewered current and former executives at Wall Street's top firm with pointed questions and criticisms in an effort to understand how Goldman had positioned itself just as the nation's housing market started to come unraveled in 2007.
"[Goldman Sachs'] conduct brings into question the whole function of Wall Street," said Sen. Carl Levin, D-Mich., who chairs the Permanent Subcommittee on Investigations, the same committee hosting Tuesday's eagerly anticipated hearing. Read more
Should states regulate hospital rates?
Would you shop in a store where they charge three times more than their cost for everything they sell? Not likely. But that's what thousands of Americans are doing every day when they check into a hospital. Hospitals in this country, on average, charge 180% above cost for every procedure performed. Except in Maryland, where state regulation means patients pay a lot less, and often get more. Our senior medical correspondent Elizabeth Cohen reports for part three of our original series, "Prescription for Waste."
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