It's always fun to speculate who will appear as witnesses--and for whom--at the big trials. So far we've only had a few big, dramatic trials. But that seems likely to change, as the trial of Raj Rajaratnam is scheduled to get underway on Tuesday.

What's more, the government may call Goldman Sachs CEO Lloyd Blankfein as a witness, the New York Times reports. Apparently, he has agreed to serve in that capacity. But it's hardly a sure shot that he will appear.

But both sides are lining up their witnesses, and we may hear from several other Goldman executives and possibly a director. Executives from P&G may also appear. It will be interesting to see if Rajaratnam's team decides to get confrontational.

Recall that McKinsey managing director Raj Gupta has been charged in a separate case with passing material inside information to Rajaratnam about both companies; he served on both boards.

The trial is certainly a huge distraction for Blankfein and other executives, but what choice do they have. You would also expect Blankfein to appear in the trial of Gupta, if it comes to that.

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