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Goldman Sachs paying 4 billion

Ringo Stalin

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"Malaysia has stopped criminal prosecution of the management of Goldman Sachs, after the investment giant agreed to pay $4 billion in the case of fraud with the Bank 1MDB"
Financial capitalism in one sentence... These shysters never answer according to the law, paying off with green paper.
Interesting here is the amount - usually the Third world countries are bought off with a couple of millions, but here 4 billion! Obviously this was about Mega theft...
 

Rogue Valley

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"Malaysia has stopped criminal prosecution of the management of Goldman Sachs, after the investment giant agreed to pay $4 billion in the case of fraud with the Bank 1MDB"
Financial capitalism in one sentence... These shysters never answer according to the law, paying off with green paper.
Interesting here is the amount - usually the Third world countries are bought off with a couple of millions, but here 4 billion! Obviously this was about Mega theft...

Citation?
 

Fledermaus

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"Malaysia has stopped criminal prosecution of the management of Goldman Sachs, after the investment giant agreed to pay $4 billion in the case of fraud with the Bank 1MDB"
Financial capitalism in one sentence... These shysters never answer according to the law, paying off with green paper.
Interesting here is the amount - usually the Third world countries are bought off with a couple of millions, but here 4 billion! Obviously this was about Mega theft...

Looks like the legal system still works in Capitalist countries.

Russia could learn from this.
 

Roadvirus

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Goldman Sucks can afford it. They made a killing during the Subprime Collapse.
 

Lord Tammerlain

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Looks like the legal system still works in Capitalist countries.

Russia could learn from this.

Anyone from Goldman going to jail for stealing a few billion?

I steal $1000 and I go to jail for few years
 

Fledermaus

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Anyone from Goldman going to jail for stealing a few billion?

I steal $1000 and I go to jail for few years

Looks like no one goes to jail because Goldman Saks paid a fine they agreed on.

How you steal and who you steal from helps determine if you go to jail at all.

In California grand theft doesn't even kick in until $950.
 

Lord Tammerlain

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Looks like no one goes to jail because Goldman Saks paid a fine they agreed on.

How you steal and who you steal from helps determine if you go to jail at all.

In California grand theft doesn't even kick in until $950.

Steal billions and no jail, steal a few thousand and spend years in jail

Capitalist punishment at its finest
 

Lord Tammerlain

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Pay billions in fines don't go to jail.

Steal less than $950 and you likely won't see jail time.

At least in California.

As I said Capitalist punishment

The more money you have, the better you get treated when it comes to crime
 

Lord Tammerlain

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If you took the time to read the article there is a whole lot more going on.

I have been following the story for a few years now.

My point still stands, Goldman executives were involved in theft and fraud, but because of their wealth and connections they are basically immune to criminal prosecutions. Real justice would see Malaysia get it money back and the executives go to jail. Instead it is just the shareholders who get punished
 

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I have been following the story for a few years now.

My point still stands, Goldman executives were involved in theft and fraud, but because of their wealth and connections they are basically immune to criminal prosecutions. Real justice would see Malaysia get it money back and the executives go to jail. Instead it is just the shareholders who get punished

So far it looks like GS is trying to make things square. Covering to monetary plus any losses due to the resale of seized assets.

Personally I would like to see all who have real knowledge to see jail time as well.
 

Lord Tammerlain

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So far it looks like GS is trying to make things square. Covering to monetary plus any losses due to the resale of seized assets.

Personally I would like to see all who have real knowledge to see jail time as well.

Jail serves a few purposes, a deterrent is one. Not much deterrent for stealing a few billion dollars if all that occurs is you lose your job and shareholders miss out on some profit. Some at GS must have known what was going on, and they bought themselves out of jail time
 

Fledermaus

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Jail serves a few purposes, a deterrent is one. Not much deterrent for stealing a few billion dollars if all that occurs is you lose your job and shareholders miss out on some profit. Some at GS must have known what was going on, and they bought themselves out of jail time

It looks like charges may be filed. And I agree with you. Every one with prior knowledge* should face the magistrate on this one.

(*turning states evidence may gat a "get out of jail free" card.)
 
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