Some European countries, especially Germany, are making noise about going after Goldman Sachs themselves, in the wake of the Securities and Exchange Commission's civil filing yesterday.
But, that all may be just for starters. There's other things that could happen. Like the SEC trying to roll Fabrice Tourre, which itself is a good reason for Goldman to look at settlement offers.
There's lawsuits by disgruntled investors, who wonder not only how much they lost on Goldman's alleged "bet against CDOs" private investments, but also wonder if Sachs had other such sweetheart deals.
Third, in light of the three possibilities above, is the chance G. Sachs stock will continue to take a beating. If CEO Loyd Blankfein resists settlement offers from the SEC, even tough ones, especially after either European country actions or individual lawsuits, he could be seriously accused of not doing due diligence for major investors.
Fourth, also in light of a stock tanking, senior staff at Sachs, who get bonuses as a signficant part of pay, might organize an inside coup against Blankfein out of financial self-preservation.
I'm probably just scratching the surface; read the full story.