By ADAM NICHOLS
DNAInfo News Editor
FINANCIAL DISTRICT — The scandal-plagued Wall Street giant Goldman Sachs will undertake a "rigorous self-examination" after being hit by fraud charges, its CEO promised today.
Lloyd Blankfein told an annual meeting of shareholders he was setting up a business standards committee, Reuters reported.
"There is no bigger priority for our board of directors and management than to undertake a comprehensive review of all of our business practices," he said.
The committee — which Blankfein first mentioned as he was grilled about the financial powerhouse's dealings at Senate hearings last week — is a sign that the investment bank is responding to public fury and the concerns of regulators.
The bank is facing charges that it defrauded investors in the sale of securities tied to subprime mortgages.
Since the charges were announced last month, the bank's stock value has plummeted by more than $20 billion, the Wall Street Journal reported.
"The last few weeks have been a difficult and disappointing year for the firm," Blankfein said.
"Questions have been raised that have gone to the heart of our most fundamental value: How we treat our clients."
