6 ms·

Where the $12 billion figure is coming from? $6 billion is what GS raised. Also, not all the said $6 billion disappeared. [edit: added 'Also, not all the $6 bi

• dm3730 8y ago
  > Where the $12 billion figure is coming from? Wikipedia. https://en.wikipedia.org/wiki/1Malaysia_Development_Berhad_scandal https://en.wikipedia.org/wiki/1Malaysia_Development_Berhad_s... "According to its publicly filed accounts, 1MDB has nearly RM 42 billion (USD 11.73 billion) in debt" The Malaysian taxpayer got finangled into guaranteeing all of that debt allegedly by GS.
  • theosp 8y ago
    Well, "it is stated that at least US$3.5 billion has been stolen from Malaysia's 1MDB state-owned fund" (https://en.wikipedia.org/wiki/1Malaysia_Development_Berhad https://en.wikipedia.org/wiki/1Malaysia_Development_Berhad) Even if guilty, what GS has to do with any debt beyond what it raised for 1mdb (us$6b)? You write: "Given that GS was the underwriter and allegedly the key enabler of the scandal, punishing GS by making them pay at least the majority of those taxpayer losses seems unjustified or unfair to you? What amount do you believe is fair?" But from reading the first paragraph under the History section here: https://en.wikipedia.org/wiki/1Malaysia_Development_Berhad https://en.wikipedia.org/wiki/1Malaysia_Development_Berhad it is clear that by the time Goldman started raising money for 1mdb (2012 if i am not mistaken), a lot of money been raised already, i.e. GS wasn't the key enabler. So why blame Goldman for all the debt accumulated under 1mdb?