The Goldman Sachs chief executive David Saloman said in Singapore last week that he felt “horrible” that two former employees “blatantlyh broke the law” in their dealings with 1MDB.

It is not enough for the global mega-bank Goldman Sachs to feel “horrible” for its principal role in the interntional 1MDB corruption and money-laundering scandal, as it is time for it to explain how it is going to compensate 32 million Malaysians for its criminal breach of trust and kleptocracy, for it is crystal clear that without Goldman Sach’s criminal role, the 1MDB scandal would not have become, in the words of the former United States Attorney-General Jeff Sessions at the inaugural Global Forum on Asset Recovery last December , “kleptocracy at its worst”.

At the inaugural Global Forum on Asset Recovery, Jeff Sessions said that “nearly half of the US$3.5 billion in corruption proceeds we have restrained is related to just one enforcement action” – the 1MDB scandal. Read the rest of this entry »