Goldman Sachs Group Inc.’s stock may drop and the board could come under pressure to change managers after European politicians followed a U.S. fraud suit with their own plans to scrutinize the firm, investors said.
Prime Minister Gordon Brown called yesterday for the U.K. Financial Services Authority to start a probe, saying he was “shocked” at the “moral bankruptcy” indicated in the Securities and Exchange Commission suit against Goldman Sachs. Germany’s financial regulator, Bafin, asked the SEC for details on the suit, a spokesman for Chancellor Angela Merkel said.
The escalating rhetoric adds urgency to efforts by Chairman and Chief Executive Officer Lloyd Blankfein and the rest of his board to stem the negative publicity. Although Goldman Sachs vowed to fight the SEC case, calling it “unfounded in law and fact,” the stock plunged 13 percent on April 16. The shares fell 1.9 percent to $157.61 at 9:47 a.m. in New York Stock Exchange trading.
(Source: Bloomberg.com)
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The reason this is a crock of something we can’t type here is because there are at least 3 or 4 Goldman Sachs people in the Obama regime, including Timothy Tax Cheat Geithner!!!!
I say we should call them out & ANYONE in Goldman Sachs is guilty of anything, these people in the regime should NOT be allowed to continue as if nothing happened.