News Blankfein Hires Prominent Defense Attorney Send GS Stock Tumbling, Gold Futures Soaring Over $1900

Tyler Durden's picture

For a perfect ending to a schizophrenic day we go to Reuters which has just reported that Goldman's CEO has hired high profile defense attorney Reid Weingarten. The market is not waiting to find out the details, and GS stock is tumbling. What has alos happened is that gold futures punched through $1900 for the first time ever. $2000 is the next target, and will likely be taken out within the week.

GS stock:

And gold:

From Reuters:

Goldman Sachs Chief Executive Lloyd Blankfein has hired Reid Weingarten, a high-profile Washington defense attorney whose past clients include a former Enron accounting officer, according to a government source familiar with the matter.

Blankfein, 56, is in his sixth year at the helm of the largest U.S. investment bank, which has spent two years dodging accusations of conflicts of interest and fraud.

The move to retain Weingarten comes as investigations of Goldman and its role in the 2007-2009 financial crisis continue.

"Why do you bring in someone like that?" said the source, who was not authorized to speak publicly. "It says one thing: that they're taking it seriously."

Blankfein has not been charged in any civil or criminal case, and it was not immediately clear why he hired Weingarten.

David Wells, a spokesman for Goldman, declined to comment.

Weingarten did not respond to requests for comment.

Something big is about to hit the tape, and this time Goldman won't be able to put the whole blame on a twenty-year old Frenchman.

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steelhead23's picture

Geez Infinity,  Don't you know nuthin?  Read Taibbi?  This Blanfein dude didn't rape the maid - he raped us all, each and every one.  By hiring this junkyard dog, we know that Lloyd't a-hole is currently in the puckerin mode.  We can only hope that it'll soon be bleedin.

infinity8's picture

HA HA again. Blankfein will "get off" most likely - I'm over Hope.

trav7777's picture

and the NY DAs are recommending dropping all charges against man

CompassionateFascist's picture

DSK walked, and so will Lloyd. Kosher Mafia Rules.

Randy Kruger's picture

Get back into your bunker, Adolf.  

trav7777's picture

huh?  These guys are jews, not whites

Randy Kruger's picture

Which ones are worse, habibi?

ihedgemyhedges's picture

Blankfein must be desperate.  I hear that Weingarten's fee is an ounce of gold per hour...............................

bigdumbnugly's picture

that's ok being that he'll be paid in GLD shares.

ihedgemyhedges's picture

You can't Jew a Jew.  Weingarten will demand physical.........

Lord Welligton's picture

Nobody else seemed to get that.

So I gave you a green.

Clampit's picture

The overwhelming vast majority of this audience silently got it ... so I gave you a red. The universe is balanced again.

(Oh, am I going to pay for this one.)

Lord Welligton's picture

Jesus wept.

It wouldn't hurt to give the man a Green.

Everyone here cannot be so far up there own arese that they can't afford a Green.



Clampit's picture

OK fine a little green. Good thing gold doesn't come off well as a screen color, there are limits to one's generosity. My foray into central planning goes about as expected.

BTW, that wasn't me who junked you the second time ... I was framed!

Lord Welligton's picture

I was framed


Let's be clear here.

We've all been framed.

By lies.

Empire this. Empire that.

It's all shit and nonsense.

It doesn't exist.

You do.

They know it.

You don't.

snowball777's picture

I smell a ZH t-shirt / donation campaign.

Paging Mr. Banzai...Mr. William Banzai...

??'s picture

Is Warren still holding that GS paper?

buzzsaw99's picture

No. Unka Warren is one of da boyz.

rosiescenario's picture

.....explains why Obuma is talking to Warren.......

knukles's picture

Yes sir.  Yes sir.  I uh....  Yes sir.  But I.... Yes sir.  Understood.  Yes sir.  Uh...

(dial tone)

JW n FL's picture

Lord Blankman is going to be offered to the dumbass masses for doing "Gods Work"?

well that will fix everything!

1 Zionist in Jail will recap the whole World!

john39's picture

i will believe this means anything when he and the rest of them are behind bars. 

johnnynaps's picture

Unfortunately, the only bars they will be behind are gold and silver some remote part of the world.

DefiantSurf's picture

where there is smoke there is usually fire...


Bay of Pigs's picture

GS and Blankfein?

Burn you fuckers...

SMG's picture

I hope he truly gets what he deserves.  I'm cynical, but never give up hoping for justice for all, especially for the Oligarchs.

Haole's picture

This post is horny, thanks Tyler.

Oh regional Indian's picture


Black Monday indeed.

BlackFeign that is.

Vivek (ORI)

SamAdams1234's picture

Couldn't have happened to a nicer guy.

stoverny's picture

The question is not whether Goldman knowingly committed Fraud.

The question is, were they uncharacteristically sloppy?

I'll bet Lloyd wishes email was never invented.

knukles's picture

No.  That is not a question.

navy62802's picture

See the problem is that the fraud was never dealt with. It was only papered over for a few years with tax-payer money. A fraudulent business model doesn't turn into a prince at midnight. And neither did any of the financial institutions that made fraud their business model. They're still out there, but no one is talking about them. And they'll eventually fail despite the craptastic attempts by the Federal Reserve. It's just a time bomb waiting to go off. Much like the European bank insolvency problem that is also going to explode in the near term.

Joebloinvestor's picture

Timmy must have given his old buddy a heads up.

One can only hope that this asshole is next.

r101958's picture

GS down $5.25 today and another $1.50 after hours.

Sudden Debt's picture



lieutenantjohnchard's picture

not sure where the blankfein deal is heading but it takes a while sometimes for the wheels of justice to get rolling. that's the case with financial fraud in the usa, of course. eventually heads will roll as the depression deepens and widens. somebody has to get the blame, and blankfein is the poster boy.

Pretorian's picture

Finnaly the cattle will be pleased and no more question will be asked, and all other Kleptomans can walk free , the lions have been fed.



Pretorian's picture

Finaly the cattle is pleased and no more question will be asked, and all other Kleptomans can walk free , the lions have been fed.



vast-dom's picture

what i'd like to know is how the fuck GS is trading at anything more than $0.666? Oh yeah it's called rigged financial fuckery courtesy of Bernank, et. al


Fuck me!

samsara's picture

Matt Taibbi Helped a little bringing some of this to the public's eye.  

Randy Kruger's picture

Matt Taibbi went from rating Moscow bars with "fuckies" (the more the merrier, of course) to writing populist articles for the Rolling Stone.  What a fucking intellectual.

Not defending GS by any measure.  Matt is a douchebag, nevertheless.

Bay of Pigs's picture


How does writing about Wall St fraud make him a "douchebag"?

Randy Kruger's picture

That was not the statement made.  Lots of things make Matt a douchebag, both personally and professionally.  Try reading one of his crappy books.