So says Henry Blodget at Clusterstock, a dogged Vampire Squid defender, cites a WaPo article detailing how DOJ started a wide-ranging criminal probe of Goldman before the SEC filed their civil fraud suit.
Goldman can’t make a criminal investigation go away by just settling and writing a massive check, the way it can with the SEC case. Instead, the firm and its shareholders and employees will just have to wait and sweat.
If the Justice Department only recently opened its investigation, it could take months or even years.
I don’t think it’ll take nearly that long. Goldman is already fatally weakened.