Goldman Sachs CEO hires criminal defense lawyer

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Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
Goldman Sachs CEO hires criminal defense lawyer

http://www.latimes.com/business/la-fi-blankfein-goldman-20110823,0,27836...

Goldman Sachs Chief Executive Lloyd Blankfein has hired a prominent Washington criminal law attorney to defend him against any charges resulting from government investigations into the financial crisis.

..Blankfein is not facing any criminal charges and is not even known to have spoken with criminal prosecutors. Goldman Sachs Group Inc. said the CEO reached out to Weingarten some months ago after the Senate's Permanent Subcommittee on Investigations wrote a report about the financial crisis that accused Blankfein of lying to Congress — a report that was then handed on to the Department of Justice.

So does this mean he knows something we don't? Is a shoe about to drop?

 

 

dshields's picture
dshields
Status: Platinum Member (Offline)
Joined: Oct 24 2009
Posts: 599
lawyers

I saw this on Bloomberg and Zero Hedge today.  People do not usually hire lawyers unless they need to.  High powered lawyers are very expensive - even for the super rich.  At that level you don't just hire a lawyer, you hire the firm and the resources of the firm.  Only someone really worried would do such a thing.  It would be interesting to know if he is paying for it or GS.  Always follow the money.

 

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
It would be interesting to

It would be interesting to know if he is paying for it or GS.

Well apparently we're paying for it.

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
U.S. Is Set to Sue a Dozen Big Banks Over Mortgages

 

Ahhh...So maybe this is the reason Lloyd Blankfein hired a lawyer/s.

U.S. Is Set to Sue a Dozen Big Banks Over Mortgages

http://www.nytimes.com/2011/09/02/business/us-is-set-to-sue-dozen-big-ba...

The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation.

The Federal Housing Finance Agency suits, which are expected to be filed in the coming days in federal court, are aimed at Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among others, according to three individuals briefed on the matter.

 

Travlin's picture
Travlin
Status: Diamond Member (Offline)
Joined: Apr 15 2010
Posts: 1322
Nice find

Nice find Johnny.  Now we know why banks stocks have been plunging recently.

Travlin 

Johnny Oxygen's picture
Johnny Oxygen
Status: Diamond Member (Offline)
Joined: Sep 9 2009
Posts: 1443
Re: Nice find

It also means he was given a heads-up.

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