In 2015, a scandal involving the state-owned 1Malaysia Development Berhad fund brought down the country's authoritarian government, amid allegations that the disgraced ex-Prime Minister Najib Razak and his retinue embezzled $4.5 billion from the fund.
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In 2015, the Malaysian government collapsed after a scandal involving embezzlement from the state-owned 1Malaysia Development Berhad fund; the scandal shows no sign of slowing down, with fresh accusations against the country's business and political leadership surfacing regularly and one prime suspect, the financier and "tabloid party boy" Jho Low going on the run, a fugitive believed to be in China.
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In Goldman Sachs's April 10 report, "The Genome Revolution," its analysts ponder the rise of biotech companies who believe they will develop "one-shot" cures for chronic illnesses; in a moment of rare public frankness, the report's authors ask, "Is curing patients a sustainable business model?"
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When Gary Cohn left Goldman Sachs to to work for Donald Trump, he was required to sell off his Goldman Sachs stock, but he didn't have to pay capital gains tax on that sale, saving him a cool $150,000,000; a year later, he was out of the Trump administration, and he still gets to hang onto those tax-free hectabucks.
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Gary Cohn is Trump's chief economic advisor. He's a former Goldman-Sachs banker with a net worth of more than $250,000,000. In his latest appearance, the quarter-billionaire explained to the press that Trump's tax-plan (which will transfer billions to the wealthiest 1%, e.g., Gary Cohn) will save two-child families earning $100,000/year about $1,000 and that they can use this money to buy "a new car." Read the rest
I missed this story when it was published last Labor Day, but hey: when Steve Bannon was you know, a regular joe working for a scrappy, much-loved, all-American firm called Goldman Sachs, he directed a $60m investment in a company called Internet Gaming Entertainment, which was a marketplace for buying and selling World of Warcraft gold, ground out of the game by botmasters and sweatshop gold-farmers. Read the rest
Malcolm Turnbull, the Goldman-Sachs investment banker turned Australian Prime Minister, secretly donated AUD1.75m to his own 2016 re-election campaign, giving it the funds it needed to squeak into victory. Read the rest
Donald Trump, who once claimed that climate change was a hoax perpetrated by the Chinese has indicated that his EPA transition team will be led by Myron Ebell, who claims that accession to the Paris Climate Accord is unconstitutional, that global warming is "modest" and "nothing to worry about" and even that "a warming trend would be good for other people" because "more people die from blizzards and cold spells than from heat waves." Read the rest
Boris Johnson led the Brexit campaign with a lot of dog-whistles about dirty foreign muck stealing our jobs and clogging up our NHS, before being stabbed in the back by Michael Gove and bowing out of politics, until, today, he was made Foreign Secretary by Theresa May, the UK's new Pry Minister. Read the rest
In 2006, western leaders decided that Gaddafi's oil was more important than his human rights record and complicity in terrorism and lifted sanctions against Libya, creating a massive pool of cash for the country that it turned into a sovereign wealth fund whose business was aggressively courted by Goldman Sachs. Read the rest
The headline figure of a $5B settlement that Goldman will have to pay after admitting to the toxic-asset fraud that led to the global economic collapse is just window-dressing: in the fine print are exemptions and giveaways that could cut that number in half. Read the rest
Carmen Segarra is a former FTC regulator who joined the fed after the financial crisis to help rescue the banking system -- but she was so shocked by the naked regulatory capture on display that she ended up buying a covert recorder from a "spy shop" and used it to secretly record her colleagues letting Goldman Sachs get away with pretty much anything it wanted to do. Read the rest
Someone at Goldman Sachs fatfingered an email and sent confidential data out to the wrong person. Read the rest