Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Thursday, August 25, 2011

Goldman's Blankfein Has Nothing to Fear

BOSTON (TheStreet) -- Goldman Sachs(GS) stock fell on reports CEO Lloyd Blankfein had hired a top securities-crime defense lawyer by the name of Reid Weingarten. That appeared to indicate that Blankfein is worried he may have some personal exposure -- perhaps even criminal liability -- for his bank's misdeeds in and around the financial crisis.

Bullfeathers. The sober reality is that Blankfein hasn't a thing to fear, at least not from President Barack Obama's Justice Department.