Lloyd Blankfein (Probably) Has Another $700M To Spend

Like every other Wall Street bank, Goldman Sachs squirreled a couple hundred extra million dollars in the third quarter, to pay fines and settlements and the like. Unlike its “peers,” however, the House of Lloyd is feeling pretty confident about matters legal and regulatory.

Goldman Sachs Group Inc. lowered the top end on its range of “reasonably possible” legal losses to about $2.5 billion, the Wall Street firm said Wednesday in a regulatory filing.

The estimate, which tracks potential losses above what was already set aside in reserves, stood at about $3.2 billion in August. In May, the figure was $3.7 billion.

Goldman Lowers Top End of Possible Legal Losses Range to $2.5 Billion [WSJ]