http://news.bbc.co.uk/2/hi/business/8642413.stm<snip>
Goldman Sachs executives boasted about the money the bank was making while the US housing market was collapsing in 2007, released company emails show.
The emails detail how the investment house profited from the mortgage crisis by betting that the market would fall.
The bank says that it lost money in the market crash.
It says it lost $1.2bn (£780m) in the residential mortgage market during 2007-08.
The emails were released by the Senate Permanent Subcommittee on Investigation into the origins of the financial crisis ahead of a hearing on Tuesday.
In one of them, Goldman Sachs executive Donald Mullen wrote to his colleague: "Sounds like we will make serious money."
In another email, a Goldman trader stated that the investments he had sold were "like Frankenstein turning against his own inventor".
"I'm trading a product which a month ago was worth $100 and today is only worth $93. That doesn't seem like a lot but when you take into account.... (the investments) are worth billions, well it adds up to a lot of money", wrote Fabrice Tourre.