Neither Blankfein nor goldman commented for the Reuters story, so we do not know with certainty if criminal or civil charges are pending. However, the DOJ has been proceeding behind the scenes and it is likely that Blankfein hired Weingarten as a pre-emptive move to fight on his behalf to insure that no charges are ever filed.
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(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.
The U.S. Securities and Exchange Commission scored a $550 million settlement against the bank in a fraud lawsuit in July 2010, but other investigations 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.
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Meet Lloyd Blankfein’s Lawyer: Reid Weingarten
we don’t know why or when Blankfein has hired an attorney. Goldman Sachs did not comment for the Reuters story.
Here is some nuggets about Blankfein’s apparent attorney, Steptoe & Johnson’s Reid Weingarten, an experienced Washington defense attorney.
Prior clients: Bernie Ebbers, the former WorldCom CEO convicted of fraud; Roman Polanski, the film director who has been wanted in the U.S. for decades-old charges involving having sex with a 13-year-old girl; Lauren Stevens, the GlaxoSmithKline attorney cleared of corporate misconduct; Former agriculture secretary Mike Espy, who won acquittal on corruption charges.
Quotable quotes: When Stevens, the Glaxo attorney, was cleared of misconduct by a judge, Weingarten said: ”We did not have a bad five minutes in that courtroom; if it had been a prize fight, they would have stopped it,” Weingarten was quoted.
“I feel like I’m in the French Revolution, defending the nobility against the howling mob,” Weingarten told BusinessWeek for a 2002 profile, referring to his corporate clients. “They want to guillotine these people without any evidence.”
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Background reading: