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22 Aug 2011 18:44

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Politics: Goldman Sachs CEO Lloyd Blankfein hires a criminal defense lawyer

  • Lloyd lawyers up: The Goldman Sachs CEO has hired the services of Reid Weingarten, an accomplished defense attorney who’s worked for former executives from WorldCom Inc. and Enron — this news caused a predictable dip in the value of Goldman’s shares, which closed down 4.7% on Monday. The obvious market concern is that Blankfein will be dealing with inquiries from the Senate subcommittee charged with investigating wrongdoings of the 2008 financial crisis, and whether his hiring a top-flight attorney suggests looming legal trouble. source