Goldman Sachs CEO is "personally outraged" at criminal behavior in his bank
Goldman Sachs CEO David Solomon is shocked, shocked, by such disreputable behavior in his bank.
Here is his reaction.
“I am personally outraged that any employee of the firm would undertake the actions spelled out in the government’s pleadings,” the firm’s chief executive officer said in a voicemail left with employees on Wednesday. “The behavior of those individuals is reprehensible and inconsistent with the good work and integrity that defines work that 40,000 of you do every day.”The bank’s stock has suffered since prosecutors implicated a trio of Goldman Sachs bankers in a multibillion-dollar Malaysian fraud early this month. On Monday -- when the country’s finance minister said he would seek a full refund of all the fees it paid for 1MDB deals -- Goldman’s shares tumbled the most in seven years.
Ah, yes. Goldman Sachs is famous for their "good work and integrity".
The US Department of Justice (DOJ) has said about $4.5 billion was misappropriated from 1MDB, including some money that Goldman Sachs helped raise, by high-level officials of the fund and their associates from 2009 through 2014.US prosecutors filed criminal charges against 2 former Goldman Sachs bankers earlier this month. One of them, Tim Leissner, pleaded guilty to conspiracy to launder money and conspiracy to violate the Foreign Corrupt Practices Act.
I'm sure it was just a "few bad apples", like Goldman Sachs’s Ex-CEO Lloyd Blankfein, who was personally involved in the transaction.
You might remember Lloyd from his doing "God's Work".
Comments
Lloyd Blankfein and God's work - fine for a punchline only
I guess he thinks his god is a real greedy thief that would screw people for a dollar.
We cannot solve our problems with the same thinking we used when we created them.
Look deep into nature, and then you will understand everything better.
both - Albert Einstein
Goldman Sachs isn't even the worst
link
To Obama the CEOs just savvy bidnessmen but teachers?
Feb. 10, 2010.
Obama Says He Is Cool With Jamie Dimon's And Lloyd Blankfein's Bonuses
Between both savvy bidnessmen, their companies needed $51 BILLION to bail them out.
A month later.
March 10, 2010.
Obama angers union officials with remarks in support of R.I. teacher firings
"there's got to be a sense of accountability"
Because that's what happened with the bankers after they crashed the economy.
These are the chains I forged in life
Published in 1843. Crikey!
"Business? Mankind was my business. The common welfare was my business; charity, mercy, forbearance, benevolence, were all my business. The dealings of my trade were but a drop of water in the comprehensive ocean of my business!”
Nothing ever changes?
Prof: Nancy! I’m going to Greece!
Nancy: And swim the English Channel?
Prof: No. No. To ancient Greece where burning Sapho stood beside the wine dark sea. Wa de do da! Nancy, I’ve invented a time machine!
Firesign Theater
Stop the War!
Someone has a great sense of humor--from your link
Great sarcasm there. Banks consider these fines a cost of doing business. Not only that, but....
https://www.marketwatch.com/story/banks-have-been-fined-a-staggering-243...
During the Obama administration, I remember a story to the effect that JP Morgan had just been hit with a huge fine. The price of its shares immediately increased. Do we expect something less favorable to banks during the Trump administration?
Goldman's reputation
After you posted this I did a Google search, and guess what I found?
That's literally the headline of the article. No tongue-in-cheek.
From that same period I remember
an article about a guy from California that got 15 months for kiting $5k worth of checks - all of which, IIRC, he hadda pay back.
Compensated Spokes Model for Big Poor.
Allow me to translate:
What my dog hears when being scolded:
“BLAH BLAH BLAH! Blah blah blah blah blah blah Kevin.”
TBTF bank CEO speak translates to:
“Those stupid fucks know better! First rule: DON’T GET CAUGHT!!!
“Now I’m left swinging and have to fall back on the second rule: DENY DENY DENY! You’re not caught until you stop lying.
“Idiots! Didn’t they know shit like this might make my bonus smaller than that moron at Citi Corp? Ungrateful sods.....”
"Ah, but I was so much older then, I'm younger than that now..."
Heh. "Money talks"
Heh. "Money talks".
money doesn't talk, it swears
money doesn't talk, it swears. - Bob Dylan
We cannot solve our problems with the same thinking we used when we created them.
Look deep into nature, and then you will understand everything better.
both - Albert Einstein
Yeah. That was in "CEO speak"
“Those stupid fucks know better!"
There must be some mistake.
I cannot believe there are people in banks that are dishonest and trying to cheat us. That's a difficult pill to swallow. All these years - feeling secure in the banking industry - knowing they were there to protect me and my money. Now to hear this. Shattering.
I don't know if I can continue today........
"The “jumpers” reminded us that one day we will all face only one choice and that is how we will die, not how we will live." Chris Hedges on 9/11
The banks HAVE to invent these scams
It's all those penalties...gotta pay for them somehow. See! it's all the governments fault. They made the banks do it.
Good Work and Integrity
When robbing people of their pensions and their homes doesn't mean the same thing it used to.
There is always Music amongst the trees in the Garden, but our hearts must be very quiet to hear it. ~ Minnie Aumonier
I got it
I got it figured out. Blankfeins god is the Great Vampire Squid!
We cannot solve our problems with the same thinking we used when we created them.
Look deep into nature, and then you will understand everything better.
both - Albert Einstein