Goldman's Cohn Is Next on Hot Seat

The Wall Street Journal reports:

For months, Goldman Sachs Group Inc. Chairman and Chief Executive Lloyd C. Blankfein has been the whipping boy for lawmakers and other critics of the securities firm's resilient paychecks, role in the credit crisis and mortgage-related bets.

Now it is Gary D. Cohn's turn. Goldman's No. 2 executive, a longtime confidant of Mr. Blankfein, is testifying Wednesday before the Financial Crisis Inquiry Commission. The congressional panel wants to know more about how derivatives fueled the crisis, including the near-collapse of insurer American International Group Inc.