The following pargraphs were sent out via e-mail to subscribers of The Washington Post. It was sent out late Friday night April 23, 2010. It reads as follows:

"Goldman Sachs is preparing its most detailed defense yet to allegations that it misled clients in its mortgage securities business, arguing that it was unsure whether housing prices would rise or fall and did not take any action at odds with the interests of its clients.

An internal Goldman document, prepared for senior executives and obtained by The Washington Post, addresses the criticism that the bank invested its own money betting against the housing market while simultaneously urging clients to invest in securities that would increase in value only if the housing market did."

This article did not indicate whether or not Goldman is mounting a vigorous defence against allegations of misconduct in order to avoid prosecution, the paying of fines or, loss of reputation and hence, clints. I suspect all three motives might be behind Goldman's insistance that it has done nothing wrong.