Yoursay: 1MDB not just about kleptocracy, but also foreign complicity
YOURSAY | ‘Firms like Goldman should be monitored closely...’
Vijay47: To US investment firm Goldman Sachs, in case you didn't catch the full drift of what Dr Mahathir Mohamad had said over CNBC, an international TV network, the prime minister had openly and bluntly accused you of cheating us.
You can admit your crimes, express your contrition, and meet our finance minister and attorney-general to discuss ways on how your shameful act can be settled with Malaysia.
You can of course choose to sue our prime minister, should you hold that he has defamed you. Either way, we are ready and waiting for you.
TehTarik: Well said. Goldman is a shark that hunts and preys on the weak. It's like a vulture that attacks vulnerable economies and profits from it.
Goldman is a shame and disgrace to the financial industry. It profited from the 2008 financial crisis, Greek economic meltdown and many other crises.
It practises revolving door politics, where its senior bankers are sent to serve as government leaders in Washington, and later recycled as bankers into Goldman.
Headhunter: Appoint an American law firm with an excellent track record to sue Goldman. The fees can be based on commission on them winning the case or none at all.
This case is so huge that a reputable law firm would do it practically for peanuts because the bragging rights will bring them big business. That's how it works in America.
And their lawyers don't go on roadshows; they either win or lose.
Shibboleth: I think Sarawak Report editor Clare Rewcastle-Brown is right. 1MDB is not just an issue of kleptocracy but also corrupt international financial institutions and bankers.
Yes, the US Justice Department (DOJ) must press charges against Goldman.
Redmann: Malaysians must be wary of these earth-shattering newscasts that say the DOJ is hot on the heels of some masked corporate highwaymen. The DOJ is a highly partisan political creature. Get real.
Read Pulitzer Prize winner Jesse Eisinger's monumental work, ‘The Chickenshit Club - Why the Justice Department Fails to Prosecute Executives’. And then, maybe, Malaysians will take a deeper breath.
Anonymous_3b6c1f0c: Domestically we should go after AmBank as well, as a lot of the money passed through them. A small fine of several million against AmBank is insufficient. They should be made to pay reparations for losses that Malaysia has suffered.
At the moment, it seems that the case against AmBank is closed, though this should not be the case. They must be held accountable.
Frank: Yes, Malaysians and, for that matter, the world needs to teach these parasites hard lessons.
But if Malaysia were to do so, it needs to do the same thing to others as well. And these others include those coming from inside the country - who until now, for reasons which are truly beyond me (and I like to think others too) - are allowed to keep their allegedly haram assets, which has contributed to them behaving as if they still have the rest of the world in the palm of their hands.
This is one of those Malaysian stories unique to us - but mind-boggling to those who think justice is the same everywhere. What say you, dear Mahathir and friends?
JW: Seriously, these so-called too-big-to-fail banks/financial institutions like Goldman should never be allowed to become such a monster to think they could do whatever they like as long as they work for whoever is in government.
Precisely because they are giants, they should be monitored even more closely because their greed will create a catastrophe for the lives of millions while they will claim innocence, stating that it’s just business as usual. They are real modern-day leeches.
Anonymous 770241447347646: The country’s image was not tarnished by Goldman, but by Malaysians themselves.
Goldman was just another business enterprise that was set up to make profits. It was Malaysians who agreed to pay such a high interest rate even though it was very unrealistic.
Port Dickson MP and PKR president-elect Anwar Ibrahim should include all those responsible for this fiasco and make sure justice is served. Maybe then we can recover as much as possible from it.
Lodestar: Indeed, how can all the blame be placed on Goldman? The 1MDB management and board approved the colossal commission of US$600 million to them.
Did the Malaysians not have a duty of care to check whether they were getting ripped off? Or did they get kickbacks? How are we supposed to act aggressively against Goldman in this case?
Prudent: @Lodestar, there is the element of collusion by Goldman with the 1MDB crooks. Their compliance procedures were deliberately compromised by their own "trusted" executives through alleged bribery. That's where the damage to Malaysia arose and their culpability for such damage.
There is no blaming Goldman Sachs "entirely". But without their collusion, the 1MDB heist could not be pulled off.
Newday: Tarnished image, Anwar? I think not.
Before 1MDB, Malaysia as far as the rest of the world was concerned, had no image to tarnish, because no one knew where we were and, in some cases, even existed.
Any publicity is good publicity and others certainly know who and where we are now. The amazing win in the 14th general election added to our image.
Go after Goldman as aggressively as you can. Just don't use Malaysia’s image as the reason for doing so. - Mkini
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