Blankfein reportedly says GS would consider cutting off business with a bank that pleads guilty to criminal charges

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Blankfein reportedly says GS would consider cutting off business with a bank that pleads guilty to criminal charges

Blankfein reportedly says GS would consider cutting off business with a bank that pleads guilty to criminal charges

Bloomberg-

Goldman Sachs Group Inc. (GS) Chief Executive Officer Lloyd C. Blankfein said he understands the concern over the potential impact to the financial markets of any global bank pleading guilty to a crime.

“There’s concern being shown, and I don’t magnify it, but I don’t minimize it either,” Blankfein said today in an interview after the New York-based firm’s annual shareholder meeting in Irving, Texas. “You hope it’s not existential, and you hope there’s not a knock-on effect to that.”

Credit Suisse Group AG is close to reaching an agreement to plead guilty and pay about $2.5 billion to the U.S. Justice Department and regulators to resolve investigations into whether it helped Americans evade taxes, three people familiar with the matter have said. A guilty plea by Credit Suisse (CSGN)’s parent company would be the first by a major global bank in the U.S. in more than two decades.

[BLOOMBERG]

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One Response to “Blankfein reportedly says GS would consider cutting off business with a bank that pleads guilty to criminal charges”

  1. GuyFawkes says:

    The homeowners need to start constructing a guillotine for these bastards!

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