While benefiting from a $10 billion government payment, Goldman Sachs executives sold nearly $700 million of stock after Lehman Brohters collapsed last September. During a comparable period a year earlier, Goldman partners sold less than $450 million in stock. The sell-off comes at an awkward time for the leading financial firm―executives were cashing in right as the U.S. government was providing assistance to the financial sector. The bank was expected to report strong second-quarter earnings Tuesday based on rebounding trading profits.
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