Unlike my PM Mahathir, I am not anti-Jew. Alll I am interested in is the way they colluded with people in power to screw the rest of the Malaysian public. Let me know if ANY OF THE WORDS I USED ARE NOT TRUE!!!! I will gladly apologise.
There is a big difference if I can cosy up to Gadaffi .... or I can cosy up to Merkel. There will be a world of difference in terms of the things I can do, the things I can get done, and the things I can say "I got this, don't bother me".
Now, we know the magnitude of the calamity from 1MDB, without Goldman Sachs help, where would we be???!!
My PM Mahathir said, Goldman Offered US$241 Million to Settle 1MDB,....
Harrooo, slap me in the face and kill my entire village please... same effect. Why I wrote this article, its the audacity of offering USD241m... its like raping someone and offering 20 sen... go and play in the canteen, don't tell your parents. THE OFFER is mockingly so, it assumes that the Malaysian public and government are idiots.
Goldman, either you were complicit or you weren't. If you weren't... why even offer. You offered means you know you have been very naughty.
But if you were a little bit complicit... ... the figure should be closer to USD3-4bn, and not USD241m.
So, by way of liability... you basically think GS is only liable for USD241m. Hmm... I would love to hear you justify that. I don't know what spreadsheet ypu will be pulling to justify that though.
“Goldman offered RM1 billion but they made 10% from it,” Mahathir said. When asked by moderator Haslinda Amin, what would be a reasonable sum, Mahathir said that it would have to be at least 10% of the total US$6.9 billion.
If you asked my PM he says around USD700m, Goldman Sach, you better just pay that. Because from all calculations it should be around USD3-4bn if you include fines and punitive charges.
Goldman Sachs, you know very well your share price has tried to DISCOUNT WHAT THE PENALTY SHOULD BE!!!!! Look at the timeline and newsflow, you lost almost USD70 per share based on the 1MDB linkages alone!!!!
USD 70 / USD 250 = 28%... the market has acknowledged you ARE FUCKING GUILTY and whacked USD20BN... dua puloh billion dollar Amerika Syarikat saha...(bloody) ja.
YOU WOULD RATHER SEE 20 BILLION USD BEING WHACKED OFF THAN COMPENSATE MALAYSIA 3-4 BILLION USD .... whackos. If you'd just step up early, admit liability, paid USD4bn, I guarantee you your share price would be higher than its current by 25%. Numbskulls... got brains, but numbskulls nonetheless.
WHY $3-4 Billion??
March 2019 - Goldman Sachs has been fined £34.4m by the UK regulator for misreporting millions of transactions over a decade. The US investment bank was criticised by the Financial Conduct Authority for “serious and prolonged failures” at its London-based international arm after reports for more than 213m transactions between November 2007 and March 2017 were not filed in an accurate and timely manner. The FCA also said Goldman “failed to take reasonable care to organise and control its affairs responsibly and effectively” in relation to those transactions. Goldman’s fine is the largest imposed by the FCA to date over transaction reporting breaches.
Goldman Sachs was fined 34.4m pounds for the above transgression. Do you think it is similar to their role in 1MDB? Cause Goldman Sach seems to think so as the RM214m offered was about similar sum. Please!!!
The bond deals in question, worth $6.5 billion total, took place in 2012 and 2013, and Goldman got $600 million in fees for those deals. Malaysia's finance minister said he wants Goldman to pay $7.5 billion in reparations. Malaysia's attorney general said the government would seek fines "well in excess" of $2.7 billion from the defendants.
Citi estimates Goldman will receive penalties ranging from US$1.5 billion to US$9 billion, and assumes a base case of US$4 billion to US$5 billion, though business activities are unlikely to be suspended.
Onerous fines and restrictions may depend on perceptions about Goldman's compliance structure. If regulators view this more as an isolated incident and believe Goldman has an effective compliance programme, consistent with Goldman's stated position, then the fine would be on the lower end of the range.
Citi's more bearish scenarios "get to the culture of the firm". News of a potential connection to Lloyd Blankfein, alleging the then-CEO attended meetings with Jho Low, began to surface on Nov 8. This meant that the "act" was more a matter of culture in Goldman and even the top bosses were in the loop - ratifying and supporting these dealings.
Thus the $600m would be a bse case as Goldman should cough back every sen earned from the deal. The scandal caused losses of $4.5bn to Malaysia. Goldman should be fined punitive damages that should send a strong message to the bankers. If it was an isolated instance or where there were a couple of rouge bankers acting on their own, the fines should be smaller, but here we are talking of a despicable culture permeating, working with underhanded untrustworthy government and being complicit with the shennanigans. A punitive fine of 4-6x the sum earned is almost a forgone conclusion. IF NOT, the bankers won't get the message if they only have to cough back the fees earned (if, and when, they get caught).
https://www.bloomberg.com/news/articles/2019-06-21/goldman-made-241-million-1mdb-compensation-offer-mahathir-says?srnd=premium-asia
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