Goldman case headed for settlement?
Reading between the lines, there are signals that a deal could happen.
That's the conclusion of Bloomberg BusinessWeek, which parses some of Goldman's recent statements and sees the company signaling for a deal.
Case in point: Arthur Levitt, a former SEC chairman who is now an adviser to Goldman. "This is a suit which I think should be settled promptly, not just for Goldman Sachs, not just for the industry, but for the economy as a whole," he told Bloomberg TV.
Has there ever been a bigger white flag waved?
Goldman is still playing it ultra cool, despite getting raked over the coals in a Senate hearing this week. "I heard nothing today that makes me think anything went wrong," Goldman chief executive Lloyd Blankfein said at the hearing.
Goldman has been hit with fraud charges in its handling of a synthetic CDO (collateralized debt obligation) that it created with the assistance of hedge fund manager John Paulson.
The Wall Street firm is in hot water over the charges but maintains that it was just doing business as usual.
The bank wants to appear as if it's trying to be more accessible and cooperative with lawmakers and the media so it can win the PR war and strengthen a weak bargaining hand. All the while, Goldman seeks to cast doubt on the substance of the legal case.
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