'There’s concern being shown, and I don’t magnify it, but I don’t minimize it either', Blankfein said last week in an interview after the firm’s annual shareholder meeting in Irving, Texas. 'You hope it’s not existential, and you hope there’s not a knock-on effect to that'.
Bloomberg News reports that Credit Suisse is close to reaching an agreement to plead guilty and pay about $2.5bn to the U.S. Justice Department and regulators to resolve investigations into whether it helped Americans evade taxes, three people familiar with the matter have said.
A guilty plea would be the first by a major global bank in the U.S. in more than two decades.
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