The 1MDB scandal: what does it mean for Goldman Sachs?

The 1MDB scandal: what does it mean for Goldman Sachs? –

1MDB scandal: what does it mean for Goldman Sachs?

I’m reading the book Billion Dollar Whale about 1MDB and if it’s to be believed culpability goes to the highest levels at Goldman – Cohn and Blankfein. It was at a minimum willful blindness.

I hope Goldman is considering massive bonus clawbacks at the C-suite.

I’m not an expert but underwriters liability may put Goldman on the hook for a lot more than they are acknowledging.

1mdb was key to Goldman refilling the honey jar after global financial crisis hence why they ignored so many red flags.

When the lead perpetrator is declined for a private banking account at Goldman due to unexplained wealth, that is the reddest of red flags. Coupled with absurdly outrageous fees and other internal alerts one can only conclude Goldman was guilty of willful blindness at a minimum.

#scandal #1mdb #bonds #privatebanking #investing
#fixedincome #underwriters

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