Goldman Sachs underwrote $14.5 billion in CDOs in 2006 and took short positions against only 1% of the total, according to prepared testimony to be delivered today before the financial crisis inquiry commission.

Gary Cohn, president and chief operating officer at Goldman, told the commission that the firm additionally underwrote nearly $47 billion in RMBS during the same period, held $2.4 billion in bonds issued by the RMBS securitization trusts, and bought protection against an additional 1% of the underwritten total.

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