Goldman Sachs (GS) cut its holdings of Italian sovereign debt by 92% in Q2, according to its...

|About: Goldman Sachs Group Inc. (GS)|By:, SA News Editor

Goldman Sachs (GS) cut its holdings of Italian sovereign debt by 92% in Q2, according to its 10-Q, with credit-derivative positions actaully giving the firm a near-$1B short exposure. Caveat emptor - as Goldman was getting short, the sales team was busy recommending Italian paper to clients.