Banks--- Betting on the recovery Message Board

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Non-Tech : Banks--- Betting on the recovery

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From: tejek	5/4/2010 12:16:49 AM
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Goldman: Settlement Talks Imminent By Charlie Gasparino FOXBusiness Talks to settle the fraud charges leveled against Goldman Sachs (GS: 149.47, 4.465, 3.08%) by the Securities and Exchange Commission could begin as early as Tuesday, FOX Business has learned. People familiar with the matter say Goldman will initiate settlement talks soon after the firm releases its response to the SEC’s charges, and FOX Business has learned that Goldman may unveil that response imminently, possibly Tuesday. According to sources, Goldman continues to believe strongly that the SEC’s case is without merit, but the firm also does not want to go to battle with regulators. At the same time, the SEC may not be so willing to settle, particularly in light of the fact the Department of Justice may be planning to file criminal charges against Goldman. Settlement talks, according to sources, would likely focus on regulators backing off the fraud charges and instead would have Goldman paying a hefty fine. Some observers also believe that embattled CEO Lloyd Blankfein may be pressured to step down as part of any settlement.

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