The Financial Times reports that Goldman CEO Lloyd Blankfein has been busy on the phone to clients, attempting to reassure them that all is well at the firm, despite the fraud charges made against it.
The newspaper quotes one unnamed person called up by Blankfein Wednesday, who said: 'He was very aggressive. He feels that the government is out to kill them, that they are under attack, and the whole thing is totally political'.
In the meantime, Bloomberg reports that Fabrice Tourre, the banker at the centre of the Goldman fraud charges, is said to have agreed to testify new week before the Senate Permanent Subcommittee on Investigations, to answer questions about his role in the affair, and how the CDO transaction he structured was sold to investors. Blankfein is also due to appear before the Subcommittee.
Finally, President Obama told CNBC Wednesday that there was no collusion with the SEC as regards to the timing of the Goldman fraud charges, which came at a time the President was working to push through a tough financial services reform bill. Obama said: 'The SEC is an entirely independent agency...and they never discussed anything with us'. The Wall Street Journal also reports that the President doesn't plan to return the $1m in contributions said to have been donated by Goldman employees towards his 2008 presidential campaign.