Goldman Sachs CEO hires defense lawyer

[Newsy]

WASHINGTON, Aug 22 (Reuters) - Goldman Sachs Chief Executive Lloyd Blankfein has hired Reid Weingarten, a high-profile Washington defense attorney whose past clients include a former Enron accounting officer, according to a government source familiar with the matter.

Blankfein, 56, is in his sixth year at the helm of the largest U.S. investment bank, which has spent two years dodging accusations of conflicts of interest and fraud.

http://newsandinsight.thomsonreuters...ense_attorney/

Very interesting development.

[TotalMayhem]

Better hire some shyster since they've captured a few of Gaddafi's sons alive...

[Captain Con O'Sullivan]

Wondered about that disastrous caper where Gaddafi was down best part of $1billion on GS-advised investments.

The thought did occur that GS were doing someone a favour by wiping Gaddafi out- bit of a mad conspiracy theory but what if GS did a deal with Washington where they removed a lot of Gaddafi's personal wealth and in return got a pass on criminal charges? No evidence or even clues on this one.

I know Taibbi at Rolling Stone has been banging on Goldman Sachs like a gong for some moons now and demanding to know why the Feds aren't al over them. I think a few Congressmen and Senators on Capitol Hill have been pressuring the State Department over GS as well so looks like Lloyd may be getting nervous.

Either that or the internal rumbles at GS mean there's about to be a heave in the hope that Bankfein will take the bad odour with him and he's hired a legal sharpshooter to make sure he gets the payoff of the century.

Bankfein could take a lot of people down if he started talking. In fact I wouldn't be surprised if he had an 'accident' someday ... like falling off the back of a yacht in fog.

[C. Flower]

Wondered about that disastrous caper where Gaddafi was down best part of $1billion on GS-advised investments.

The thought did occur that GS were doing someone a favour by wiping Gaddafi out- bit of a mad conspiracy theory but what if GS did a deal with Washington where they removed a lot of Gaddafi's personal wealth and in return got a pass on criminal charges? No evidence or even clues on this one.

I know Taibbi at Rolling Stone has been banging on Goldman Sachs like a gong for some moons now and demanding to know why the Feds aren't al over them. I think a few Congressmen and Senators on Capitol Hill have been pressuring the State Department over GS as well so looks like Lloyd may be getting nervous.

Either that or the internal rumbles at GS mean there's about to be a heave in the hope that Bankfein will take the bad odour with him and he's hired a legal sharpshooter to make sure he gets the payoff of the century.

Bankfein could take a lot of people down if he started talking. In fact I wouldn't be surprised if he had an 'accident' someday ... like falling off the back of a yacht in fog.

Gaddafi's - and Libya is down way more than a billion in confiscated assets.
The speed at which hands were got on oil and cash was breathtaking.

[Captain Con O'Sullivan]

Before the confiscation and freezing of assets though (towards the end of last year ISTR) there was a nervy meeting where GS execs were in Tripoli explaining to Gaddafi why his investments with them tanked in spectacular fashion. Rumour has it that Gaddafi's henchmen issued threats to some of the GS execs.

Seems a bit strange that GS performed so badly given their inside track. See if I can find an article on that odd little sequence of events.

http://www.marketsqueeze.com/2011/06...d-off-gaddafi/

'Long before the US-led air strikes against Libya’s Muammar Gaddafi, the dictator and one of America’s most profitable banks were firm financial friends in 2008. According to the Wall Street Journal, Goldman Sachs offered Gaddafi the chance of becoming a huge shareholder. But only after losing 98 per cent of Libya’s $1.3 billion sovereign-wealth fund in just a few months.

“They lost a staggering percentage. I do not know how you lose 98 per cent of something. It was a bet on options on European banks and energy companies whose stocks plunged shortly thereafter. But in any case, clearly they saw a goldmine in Gaddafi,” said Russ Backer, an investigative journalist.

When the fund, controlled by Colonel Gaddafi, nearly emptied, Goldman ponied up offers to recoup losses. According to the journal, Libya would get $5 billion worth of Goldman shares – in return for making a $3.7 billion investment in the securities firm. Libya agreed to buy the bank’s debt, but with a promise of a lucrative annual 6 per cent return for 20 years.

“Goldman knew it was about to head into a nosedive and there they were selling Libyans a piece of junk, which was themselves,” stated Greg Palast, an investigative journalist. '

http://rt.com/news/gaddafi-money-usa-bank/

Looks like Goldman may have either made a 98% loss for a client which is unusual or they were doing Langley a favour...

[TotalMayhem]

'Long before the US-led air strikes against Libya’s Muammar Gaddafi, the dictator and one of America’s most profitable banks were firm financial friends in 2008. According to the Wall Street Journal, Goldman Sachs offered Gaddafi the chance of becoming a huge shareholder.

OT, but didn't St. Lenny offer Gaddafi to become a huge shareholder in Anglo or so?

[Captain Con O'Sullivan]

Jesus- I do recall some murmur along those lines ... looks like Gaddafi's luck hasn't been all bad these last few years. He might have been a major shareholder at Anglo.

Losing Libya is one thing but Anglo ...

[TotalMayhem]

Jesus- I do recall some murmur along those lines ... looks like Gaddafi's luck hasn't been all bad these last few years. He might have been a major shareholder at Anglo.

Losing Libya is one thing but Anglo ...

I think Gaddafi declined the offer as he didn't think it was a such a good idea at the time. How silly, we now would have offered him asylum, some nice villa from the vast pool of NAMAtised properties and indeed his investment guaranteed by the Irish taxpayer.

Now he'll have to make it up with Lloyd and his hotshot lawyer. (is this guy really partner in a law firm called Steptoe???)

[Count Bobulescu]

. (is this guy really partner in a law firm called Steptoe???)

Only the best for Cabra West.

http://www.steptoe.com/