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-- security probes so what does all this mean for CEO Lloyd Blankfein Charlie Gasparino.
Has the latest I'm glad you have the yellow memo by the way everyone here in gelatin and a tie straight what happened yet -- get -- all that.
We should point out that the chances of the Justice Department bringing criminal charges from day one was zero.
Everybody out there should know that it was zero why is that that's following Arthur Andersen the Justice Department where -- put out their instant out of business following Enron.
Justice Department -- taken the -- that they generally.
Unless you know -- laundering money for al-Qaeda.
You are big financial for you will not be put out of business that is why all these firms that are involved in Libor standard charter.
What they'll do is enter into deferred prosecution agreements if that ever happened so.
We should take that action to take -- off to the table immediately I don't think this is.
In terms of Goldman Sachs such a big story -- they were never ever ever going to be charged.
Where is this a story this is a story and Lloyd Blankfein.
Stand -- chance to be charged as CEO for potentially lying to eleven committee Carl Levin.
When he investigated mortgage backed securities alleged improprieties last year he there're couple things 2010 he gives testimony.
-- -- maybe it was 2011 it's been so long I've forgotten but whatever let him believed that was credible evidence that Lloyd Blankfein this -- the committee.
He apparently Lloyd Blankfein did not.
Did not characterize.
The big short when they went short the mortgage backed securities markets that they actually sold some of these securities to their clients he did not characterize it as massive.
That was inside -- memos that is the big story here he's been cleared and what does that mean for him.
You know I don't -- they were my sources say he stays at the firm.
At least for the next year.
After that nobody knows who might replace and we should point out that Gary -- His number two his longtime number two president of Goldman Sachs is the nipping at his heels for a long time people still say.
This guy is likely replacement and could come out and -- and -- here standing near listen.
Gary Cohn is the best number two on Wall Street he will walk out.
He will start his own hedge fund and and that's the problem that Lloyd Blankfein now.
Like -- clearly wants -- leave on an up note.
He -- improve the stock price shares of Goldman Sachs like most financial firms have been getting a fairly hammered.
In the last year that is what he wants to do so look if you could see any pro got its its initial chart of those you know you see coming back and it.
If you see some prolonged improvement in -- -- stock price.
That's when you see that's when I think he can start saying that Lloyd Blankfein if the running this place for -- long time.
Basically transitions to his number two so we we do know no pressure on to put to leave.
Clearly the next year he's he's in there to -- wants to go higher.
I mean you know like I we reported the story first your fox business and it was by a year ago he was tell people you're starting sick of it you know Tom.
You know these are you relentless fighting it does take over your whole entire life obviously -- -- never count mean it's the same thing with Jamie Dimon.
What is the one thing that Jamie Dimon wants to do desperately at that firm -- -- predict the stock price up and it's the same thing here.
And I think that's what's prevent him.
From the finish Sampson.
So there's a stock price if it ever gets back up what was it.
In -- was about a 130.
That was its high right it's it's twelve -- whatever that look at 18100.
-- I think when he it would starts approaching that.
That's when you can start talking is that the transition not its dominance falling with these CEOs -- they'll kind of hanging on because it's a competitive with one another.
Well I don't think any -- wants to leave the the industry.
Now because you don't know what's gonna happen if Romney does pull it off and -- if Republicans win the senate.
Dodd-Frank is gonna be major and revamp them in a major way.
And then business profitability is gonna come back to Wall Street there's no -- about it.
A lot of these sort of things involved with Dodd-Frank from the Volcker Rule you know preventing them from -- proprietary trading which had.
Very little to do with the financial crisis some of the stuff like that the course embedded in some of these financial forms I think that's gonna that's gonna back off.
I also believe there's going to be -- -- -- last year I've said it here thousand times to break up the banks.
I think you know they -- -- be around for that so that's what we're going to be in next I mean a lot of this depends on the presidential election everything's on hold until then.
They all clearly wanna leave when things are better and I think that's work but we're like.
I don't go out on top.