A Case Study in Crony Capitalism

Billion dollar deals, a powerful investment bank, government officials, bribery, money laundering, extraditions, implausible denials of wrongdoing by top executives – what else could you ask for in a story about crony capitalism?

(From Zerohedge.com)
Meanwhile, in its latest attempt to wash its hands of the entire affair, Goldman has said it believed the money it was raising for 1MDB would be used for development projects, and has sought to portray any wrongdoing as acts by rogue ex-employees. On Wednesday, new CEO David Solomon said in a Bloomberg Television interview that he felt “horrible” about the role former employees played in the scandal surrounding 1MDB, and that Goldman is cooperating with authorities.

Click here for article.