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Goldman Sachs confirms its CEO hired criminal defense attorney

August 22, 2011 |  2:06 pm

Blankfein Goldman Sachs is responding to a Reuters report that its chief executive, Lloyd Blankfein, has hired a criminal defense attorney.

Here's what a spokesman for the firm said in a statement:

"As is common in such situations, Mr. Blankfein and other individuals who were expected to be interviewed in connection with the Justice Department’s inquiry into certain matters raised in the PSI report hired counsel at the outset."

The PSI is the Senate subcommittee that investigated wrongdoing during the financial crisis and pointed a finger at Goldman.

Goldman shares plunged in the final minutes of trading, after the initial report on Reuters. The stock ended down $5.25, or 4.7%, at $106.51, its lowest close since March 2009.


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Photo: Goldman Sachs Chief Executive Officer Lloyd C. Blankfein testifies on Capitol Hill in Washington in 2009. Credit: Haraz N. Ghanbari / AP Photo