It is most ironic that the Wall Street titan Goldman Sachs is criminally involved in the facilitation of the 1MDB “kleptocracy at its worst” scandal of Malaysia.

Goldman Sachs has produced top-notch United States government leaders, and some of the former Goldman Sachs employees who have moved on to top government positions include former US Secretaries of the Treasury Robert Rubin and Henry Paulson and current US Secretary of the Treasury Steven Mnuchin, former US Chief Economic Adviser Gary Cohn, European Central Bank President Mario Craghi, former Bank of Canada and current Governor of Bank of England Mark Carney.

In addition, former Goldman employees have headed the New York Stock Exchange, the World Bank, and competing banks such as Citigroup and Merrill Lynch.

Goldman Sachs has a compliance group responsible for managing and overseeing compliance policies and internal accounting controls covering bribery, money-laundering, conflicts of interest, personal investments, outside activities, etc.

Goldman Sachs Chief Executive David Solomon said in Singapore last week that he felt “horrible” that two former employees “blatantly broke the law” in their dealings with Malaysian state fund 1Malaysia Development Berhad. Read the rest of this entry »