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David Solomon Prepares ‘It Was The Last Guy’ 1MDB Defense

So, like, go easy on us.
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getty images

The criminal charges leveled against two former Goldman Sachs bankers are decidedly not a good look for the bank or for its new CEO, David Solomon. This is especially true since at the time one of them admits he was laundering money and tossing around bribes to win Goldman the privilege of arranging $6.5 billion in loans for Malaysia’s apparently entirely criminal sovereign wealth fund, Solomon was in charge of Goldman’s investment bank, and thus those men’s boss.

Goldman has long maintained that it had no idea what Tim Leissner was up to when he wasn’t planning parties or doing entirely legitimate investment-banking things. It still maintains this. Unfortunately, some new shit has come to light that makes this defense a bit trickier. On the bright side for Solomon, though, he can point the finger at the guy in the fancy new office down the hall.

Two weeks later Lloyd Blankfein, one of the world’s most powerful bankers who at the time was chairman and chief executive of Goldman Sachs, attended a meeting with Mr Low and Najib Razak, who was then Malaysia’s prime minister….

The revelation that Mr Low met with Mr Blankfein at least once could undermine this “rogue employee” narrative…..

Prosecutors believe that Mr Low met on a second occasion with a senior Goldman executive in 2013 at a gathering that included the Malaysian PM and one of his family members….. A person briefed on the matter said that the unnamed executive at the 2013 meeting detailed in the filing was Mr Blankfein, although there is some doubt over whether Mr Low was at that second meeting.

Lloyd Blankfein revelation piles pressure on Goldman over 1MDB [FT]



David Solomon’s Honeymoon Comes To Abrupt End

Could this ex-partner’s guilty plea not have come, say, a month and a day ago?

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Oh, Just Get To The Serial Bigamy Already

Before we get to the juicy stuff at the ex-Goldman banker 1MDB trial, we’ve got to hear about all the fraud.

Goldman Saves The Worst For Last

Lloyd might have been a little too tender with his firing stick.

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Maybe Goldman Sachs Should Have Let 1MDB Banker Move To L.A.

If it had, maybe he’d have a different story to tell prosecutors.

Not a place Goldman is particularly interested in visiting. Two hundred percent. [CC BY-SA 2.5], from Wikimedia Commons

Malaysia Is Not Buying What Goldman’s Selling This Time

$6.5 billion in bond deals? Sure. This cockamamie story about how you didn’t know people were stealing almost half of it? No.


David Solomon Goes The Full Bart Simpson In Year-End Message To Goldmanites

On the subject of 1MDB scandal, DJ D-Sol wants everyone to rest easy next week.