Goldman Sachs and JP Morgan Launder Billions… and Walk Free??!
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You know how we’re all supposed to be equal under the law, right? Thomas Jefferson, right. Yeah, big banks above the law. This is a follow-up to a story that we first started tracking. Wow, you’re talking 10 years ago? I mean, longer than that, quite frankly. This is going back to the whole Malaysian Sovereign Wealth Fund scandal. JP Morgan now has to pay 330 million.
over this one MDB and the transactions that took place and the billions upon billions of dollars that were looted. Again, this goes all the way back, only back to, wow, 2000, almost 20 years while I’m getting old. They started a scheme to misappropriate about $4.5 billion. And when all was said and done,
It ended up being more than that. Goldman Sachs already paid five billion dollars in multiple countries. Money laundering at its best, all sorts of nonsense going on. But again, this is nothing new. This is how they operate. And that’s obviously some significant fines from both of them. don’t you think they know the risk?
And you don’t think that they understand, you don’t think these big banks, don’t think Goldman Sachs, you don’t think JP Moore, you don’t think Morgan Stanley, all of these firms, Bank of America, Merrill Lynch, you don’t think that they understand the return on investment when they’re doing something like this. I talk about risk often on our programs, managing money, and I always talk about the fact that you can never let risk lead to ruin. Well,
The worst thing that’s going to happen, these guys are going to pay a fine. They make a calculated decision saying, you know, there’s a risk involved with this. We get caught, we’ll pay a fine, we’ll walk away. Again, I don’t know how much they made when all was said and done. You don’t know any sort of back channel deals that are done with some of the players that are involved with this. mean, who knows? But man, man, they pony up every year.
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You ever get a pony up fine this one, 100 million here, billion there, all that stuff, that’s real money, right? Yeah, never really seems to bother them. And the other thing too is, is anyone, is any individual at these big banks ever held personally responsible? This is the other issue I have, and I’ve described this before. Corporation is a tax ID number and a logo.
Goldman Sachs, the tax ID number and logo, nor JP Morgan, the tax ID number and logo, are not capable in of themselves to launder money, to rip people off, to steal anything. They can’t. You need a human being to engineer that. And what’s interesting is, is that if you work at one of these firms, one of those human beings, again, you’re basically
Abdullah
Are you not? I don’t see, I don’t see any. You ever see anybody from any of these big firms? All the crap that they pull off on a regular? You ever see anyone actually held accountable? You ever see any perp walks? Handcuffs? No. No, it’s kind of like a wink, wink, nod, nod type of an agreement between the authorities and these big banking institutions.
It’s like they’re playing cops and robbers, so to speak. No one really does any time. Again, big banks continue to get rich, continue to pull this crap off. Nothing happens. Again, I put this out there because again, it is what it is. Nothing’s changing. I don’t think it’s going to change anytime soon. I just let people know because again, you decide who you’re going to do business with.
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Think it’s a wise choice to do business with people that are this ethically challenged? Well, I guess that’s on you. Watchdogonwallstreet.com
