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Department of Justice Would Treat Goldman Sachs Slightly Better Than Arthur Andersen

That is, the DOJ wouldn’t indict Goldman on criminal charges like they did Andersen. Which, you may recall, didn’t turn out so well for A^2.

DealBook reports the musings of Sanford Bernstein analyst Brad Hintz:

If an alleged violation is identified during a Goldman investigation, we expect a reasoned response from the Justice Department. In a worst case environment, we would expect a “too big to fail” bank such as Goldman to be offered a Deferred Prosecution Agreement, pay a significant fine and submit to a Federal monitor in lieu of a criminal charge. Consequently, we do not believe that Goldman investors face an “Arthur Andersen” risk.

No ‘Arthur Andersen’ Risk to Goldman, Analyst Says [DealBook]