Goldman's Solomon Wants to Get Past 1MDB Probe 'As Soon as We Can'

The transcript discusses Goldman's financial preparations for potential fines and their legal stance on ongoing investigations. It highlights the impact of firms pleading guilty in financial cases, referencing other institutions like Citigroup and JP Morgan. The focus is on resolving issues efficiently for stakeholders, without speculating on legal outcomes.

What has Goldman Sachs done in anticipation of potential legal outcomes?

• They have decided to ignore the investigation.

• They have pleaded guilty to the charges.

• They have set aside money for potential fines or settlements.

• They have started discussions with the Justice Department.

Why does the speaker refrain from commenting on the potential legal outcome?

• They have already reached a settlement.

• They are confident of a favorable outcome.

• They believe commenting would be inappropriate at this stage.

• They have been instructed by the Justice Department not to comment.

What is questioned about firms pleading guilty in financial cases?

• If it guarantees a reduction in fines.

• If it results in significant operational changes.

• Whether it leads to immediate business closure.

• Whether it is merely symbolic or 'window dressing'.

Which financial institutions are mentioned as having pleaded guilty in similar cases?

• Goldman Sachs, Morgan Stanley, Deutsche Bank, HSBC

• Citigroup, JP Morgan, UBS, RBS, Barclays

• Santander, Lloyds, ING, Societe Generale

• Bank of America, Wells Fargo, Credit Suisse, BNP Paribas

What is the firm's primary focus in resolving the current issue?

• To avoid any financial penalties.

• To ensure the best outcome for shareholders and clients.

• To minimize media coverage.

• To delay the resolution as long as possible.