2012-08-14 — reuters.com
``Goldman and its rivals are keeping their lawyers plenty busy. It looks like Blankfein and his colleagues may be the targets of some fresh claims. Citigroup also added to its legal reserves last quarter, to cover possible charges from an interchange lawsuit. Mounting mortgage litigation has been forcing other banks to top up legal reserves, too.
The process behind these funds is opaque. Companies only need to give boilerplate explanations and set aside what they consider to be reasonable costs for pending cases. That's not only subjective, it's tactical. Too high a figure can encourage the other side to push for a bigger deal.''
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