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There wasn't a year after the global financial crisis which started in 2007 when one or more major banks were not involved in some major scandals, even after al
by 21 8y ago
There wasn't a year after the global financial crisis which started in 2007 when one or more major banks were not involved in some major scandals, even after all the bailouts and "we'll behave from now on promises": Libor fixing, FX fixing, HSBC money laundering, UBS helping rich clients evade taxes, and so on.
I can't think of any other industry where year after year the same 4 or 5 actors are involved in major scandals, yet not one single senior executive goes to jail.
As the US general attorney put it, they really are "too big to jail", and they behave accordingly.
- deleted 8y ago[deleted]
- drharby 8y agoTo be clear, this isnt a GS scandal, this is a Malaysian scandal. Goldman just gets more clicks. I mean, bribing gov. Officials is baf, but the bank issued bonds. The fund was plundered by others.
- coliveira 8y agoYou must be kidding if you think this is just a Malaysian thing. Nobody does scammy business with a major company like GS without them having a cut of the action. If there is one thing that Wall Street execs are not is stupid. And of course the justice system knows it, otherwise they wouldn't bring changes against them.