Goldman CEO sees concerns over impact of guilty pleas from global banks

Lloyd Blankfein

Goldman Sachs CEO Lloyd Blankfein said he understands the concern over the potential impact to the financial markets of any global bank pleading guilty to a crime.

'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.

To access the complete Bloomberg article hit the link below:

Blankfein Sees Concern in Guilty Plea by Any Global Bank 

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