SHOOT: And you make it a non-disclosure settlement, meaning nobody can say nothing, and then it's business [cheating] as usual, once more.
“If Tourre says, ‘Goldman’s board knew what we were doing,’ you can imagine Goldman will want to portray him as disgruntled,” or willing to lie to avoid punishment, the professor said. That may not help the firm itself, he added.
Byron Georgiou, a member of a U.S. panel that’s investigating the financial crisis, said he doubts Goldman Sachs could make a convincing case that Tourre acted alone and without
“It’s hard to imagine that there wasn’t some supervision of a 27-year-old, at that time, trader structuring a billion- dollar transaction on which Goldman made a $15 million fee,” Georgiou, who serves on the Financial Crisis Inquiry Commission, said in a Bloomberg Television interview.
Goldman Sachs, which vowed on April 16 that it would “vigorously contest” the SEC’s suit, isn’t ruling out a potential settlement, Palm said.