Wall Street Roundup: Goldman’s defense. American consumption.

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Greenspan testifies. In the first of three days of hearings on the financial crisis, Alan Greenspan told members of Congress this morning that subprime loans should not be blamed for the crisis.

Goldman’s defense. Goldman Sachs released a letter this morning defending its conduct in recent years. Meanwhile, the Wall Street Journal looks at Jamie Dimon’s lobbying efforts in Washington on behalf of JPMorgan Chase & Co. and the broader banking community.

Americans consuming. Recent data suggest American consumers are finally beginning to spend again, according to the New York Times.

U.S. vs. Europe. The American economy is growing at a much faster clip than economies elsewhere in the developed world, the OECD said on Wednesday.

-- Nathaniel Popper