Mr. Sachs, Show Me MY Money

We tend to take things for granted very easily. With what we know as of today, just imagine if we did not change the government back in May. Many dastardly shenanigans would have continued, the degenerates would have continued merrily stuffing their pockets, the skimming and shaving and loading would have continued unabated.

Plus its not just financial crimes. If anyone stood in their way, things would kautim-ed one way or another, by hook AND crook. Planted evidence, unnecessary audits, the taxman cometh ... or let's take a trip to Kajang.

So, it is in this light that our Finance Minister is asking back the fees paid to Goldman Sachs. It is also good to see the share price of Goldman Sachs being "sold down" in light of the 1MDB issue.

We are 'lucky' in that the 1MDB fiasco was big enough to make a dent to the behemoth that is GS. Can you imagine if our "losses" were minuscule compared to their market capitalization, reputation, integrity, profits??!! Then 1MDB might not have mattered to them and their shareholders.

Going down 7.2% in a single day is a big deal. Its market cap is around $76bn, a 7.2% drop meant in one day it has lost $5.5bn (RM22.7bn). To put that in perspective: ...the $6.5 billion it raised in 2012 and 2013. Goldman Sachs handled the deals, reaping almost $600 million in fees.

Anyone can see that IT WILL BE CHEAPER TO JUST GIVE US BACK THE FEES. Rich people are not stupid, especially when the figures are staring like that in their faces.

So was what GS did so bad?

Answer: YES, YES ...

a) the corrupt who has the power can only do so much... they need "ideas", shortcuts, devious means and ways to "get the deal done" ... hence the enablers of a crime/CBT should be punished as well

b) GS cannot say they did not know... they knew, otherwise who will pay such exorbitant fees for a simple bond issue... Malaysia is not a third or fourth world country .. the bond rates and fees charged were nothing short of being exorbitant and repulsive

c) Big banks were fined royally for pushing toxic products, and/or money laundering ... this is worse, being complicit and enabling corrupt politicians and influencers to pillage and burn.


Losing $5bn in market cap (with more to come) ... or pay us back $600m, and I am certain Malaysia can sue for at least another $2-4bn for collateral damages, punitive damages, etc...