Goldman And SEC Still Very Far Apart In Settlement Talks

Lloyd Blankfein

According to WSJ, Goldman Sachs (GS) is definitely in talks with the SEC, though of course this news has been reported by fellow Dow Jones properties New York Post and Fox Business News.

What is interesting here is that no deal seems imminent, as the two sides battle over price.

The two sides remain far apart. The preliminary settlement talks, held Tuesday, between Goldman co-general counsel Gregory Palm and other lawyers representing the New York company and SEC officials didn’t include any specific settlement terms, such as the amount of a fine or agreements Goldman could make with the agency, people familiar with the situation said.

We’re guessing the SEC wants a huge fine, and would like to see Lloyd Blankfein go. The more Goldman is willing to pay, the less Lloyd Blankfein’s ouster would be an issue.

Either way, they’re going to settle, but it doesn’t sound like we’ll get a handshake this week.

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