The recent uptick in regulatory action aimed at Goldman Sachs--including the public suggestion by a Senator that Goldman Sachs executives might have committed perjury--has complicated the exit of CEO Lloyd Blankfein. If he had thoughts of an exit anytime soon, they most likely didn't last long.

For confirmation, we turn the New York Times, which reports, "the firm disclosed in a regulatory filing that it had received more subpoenas related to Abacus and other collateralized debt obligations that it made during the mortgage boom. Goldman has previously revealed that the Financial Industry Regulatory Authority and the Financial Services Authority in England are looking into Abacus."

The firm on Tuesday said that it had received subpoenas from other unnamed regulators in connection to Abacus and other CDOs. In a filing in late March, the firm disclosed only that it had received requests for information from unnamed regulators. A subpoena is a more serious step."

In addition, the firm said the CFTC is looking into its role as a clearing broker and that charges may be coming.

And if all that wasn't enough, the firm also disclosed that regulators are looking into its Build America Bonds program, specifically some conflicts-of-interest disclosure issues.

This is not good news for Blankfein. It amounts to enough of a cloud to keep current management in place, as the last thing the two top dogs will ever do is step down under the appearance that they were forced by events. If there is even a chance that their exits will be tainted, they will not do it.

For more:
- here's the article

Related Articles:
Goldman Sachs annual meeting ends with a whimper, no bangs
Management changes coming at Goldman Sachs?
Evelyn Y. Davis vs. Goldman Sachs, the battle continues