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2016 Postmortem
Related: About this forumHillary & Malaysia & Goldman Sachs & Money Laundering & Current FBI Investigations
. November 2, 2010: (Clinton) Remarks with Malaysian Foreign Minister Anifah Aman
"Finally, we are pleased that Malaysia joined last month's negotiations for the Trans-Pacific Partnership.
That is a pact that would expand markets and create a level playing field for people in every country that does participate.
I know there are tough issues to work out, as there always are with these agreements, but Malaysia's leadership in this region for greater economic growth is absolutely essential."
"Finally, we are pleased that Malaysia joined last month's negotiations for the Trans-Pacific Partnership.
That is a pact that would expand markets and create a level playing field for people in every country that does participate.
I know there are tough issues to work out, as there always are with these agreements, but Malaysia's leadership in this region for greater economic growth is absolutely essential."
November 2, 2010: Secretary Clinton's Meeting with Kuala Lumpur Embassy Staff and Their Families
"And I think we have tremendous opportunities here. But I know when I leave tomorrow, the work to make those opportunities into realities falls to all of you. So I know a lot is expected of you, but we're going to be doing even more in Malaysia.
We have some very exciting work on the Trans-Pacific Partnership, enhancing trade and investment (inaudible) that will promote closer cooperation."
"And I think we have tremendous opportunities here. But I know when I leave tomorrow, the work to make those opportunities into realities falls to all of you. So I know a lot is expected of you, but we're going to be doing even more in Malaysia.
We have some very exciting work on the Trans-Pacific Partnership, enhancing trade and investment (inaudible) that will promote closer cooperation."
U.S. Examines Goldman Sachs Role in 1MDB Transactions; FBI and Justice Department gather information about bank's role in transactions at Malaysia fund
Lamar, Mia; Hope, Bradley; Baer, Justin. Wall Street Journal (Online) [New York, N.Y] 14 Oct 2015: n/a.
The bank was consulted during 1MDB's inception, advised it on three acquisitions and arranged the sale of $6.5 billion in bonds that alone brought in close to $600 million in fees, according to people close to the bank.
1MDB is now entangled in accusations of billions of dollars of missing money, putting it at the center of a political crisis for Malaysian Prime Minister Najib Razak, who oversees the fund.
Goldman Sachs Group Inc.'s role as adviser to a politically connected Malaysia development fund resulted in years of lucrative business. It also brought exposure to an expanding scandal.
As part of a broad probe into allegations of money laundering and corruption, investigators at the Federal Bureau of Investigation and the Justice Department have begun examining Goldman Sachs's role in a series of transactions at 1Malaysia Development Bhd., people familiar with the matter said.
The inquiries are at the information-gathering stage, and there is no suggestion of wrongdoing by the bank, the people said. Investigators "have yet to determine if the matter will become a focus of any investigations into the 1MDB scandal," a spokeswoman for the FBI said.
The widening scandal --investigators in five countries are now looking into 1MDB--highlights the sometimes risky path that Goldman has cut in emerging markets in search of faster growth.
A few years before the Malaysia deals, Goldman did a series of controversial transactions with the Libyan Investment Authority that also brought unwelcome attention.
The Libyan sovereign-wealth fund claimed in a lawsuit filed in 2014 in London that the bank took advantage of its unsophisticated executives to sell them complicated and ultimately money-losing investments. Goldman has said the claims are without merit. A trial in the suit is scheduled to begin next year.
The bank earned $350 million for executing nine trades for Libya, according to the investment authority.
It earned far more from the Malaysian fund. The bank was consulted during 1MDB's inception, advised it on three acquisitions and arranged the sale of $6.5 billion in bonds that alone brought in close to $600 million in fees, according to people close to the bank.
Lamar, Mia; Hope, Bradley; Baer, Justin. Wall Street Journal (Online) [New York, N.Y] 14 Oct 2015: n/a.
The bank was consulted during 1MDB's inception, advised it on three acquisitions and arranged the sale of $6.5 billion in bonds that alone brought in close to $600 million in fees, according to people close to the bank.
1MDB is now entangled in accusations of billions of dollars of missing money, putting it at the center of a political crisis for Malaysian Prime Minister Najib Razak, who oversees the fund.
Goldman Sachs Group Inc.'s role as adviser to a politically connected Malaysia development fund resulted in years of lucrative business. It also brought exposure to an expanding scandal.
As part of a broad probe into allegations of money laundering and corruption, investigators at the Federal Bureau of Investigation and the Justice Department have begun examining Goldman Sachs's role in a series of transactions at 1Malaysia Development Bhd., people familiar with the matter said.
The inquiries are at the information-gathering stage, and there is no suggestion of wrongdoing by the bank, the people said. Investigators "have yet to determine if the matter will become a focus of any investigations into the 1MDB scandal," a spokeswoman for the FBI said.
The widening scandal --investigators in five countries are now looking into 1MDB--highlights the sometimes risky path that Goldman has cut in emerging markets in search of faster growth.
A few years before the Malaysia deals, Goldman did a series of controversial transactions with the Libyan Investment Authority that also brought unwelcome attention.
The Libyan sovereign-wealth fund claimed in a lawsuit filed in 2014 in London that the bank took advantage of its unsophisticated executives to sell them complicated and ultimately money-losing investments. Goldman has said the claims are without merit. A trial in the suit is scheduled to begin next year.
The bank earned $350 million for executing nine trades for Libya, according to the investment authority.
It earned far more from the Malaysian fund. The bank was consulted during 1MDB's inception, advised it on three acquisitions and arranged the sale of $6.5 billion in bonds that alone brought in close to $600 million in fees, according to people close to the bank.
1MDB's Latest Act: Two Obama Fundraisers, One Fugee and $69 Million; There are no allegations of wrongdoing, but the deal has generated controversy in Malaysia
Hope, Bradley. Wall Street Journal (Online) [New York, N.Y] 12 Nov 2015: n/a.
The fund, 1Malaysia Development Bhd., paid private-equity group DuSable Capital Management LLC $69 million to buy its stake in a joint venture to develop solar power plants in the Southeast Asian country, the two sides said Wednesday.
The sprawling web of investments by a Malaysian government fund at the center of a corruption probe now includes two former fundraisers for President Barack Obama and a hip-hop superstar.
The fund, 1Malaysia Development Bhd., paid private-equity group DuSable Capital Management LLC $69 million to buy its stake in a joint venture to develop solar power plants in the Southeast Asian country, the two sides said Wednesday.
The parties had signed an agreement in April 2014 giving DuSable a 49% stake, but 1MDB agreed to buy out the firm six months later, before construction had begun on any project, they said.
DuSable was founded in May 2013 by Frank White Jr., a member of Mr. Obama's 2008 national finance committee and a fundraiser for Hillary Clinton; Shomik Dutta, a former special assistant at the White House who worked previously as an investment banker; and Pras Michel, one of the original members of the band the Fugees and the artist behind the song "Ghetto Supastar (That Is What You Are)."
Hope, Bradley. Wall Street Journal (Online) [New York, N.Y] 12 Nov 2015: n/a.
The fund, 1Malaysia Development Bhd., paid private-equity group DuSable Capital Management LLC $69 million to buy its stake in a joint venture to develop solar power plants in the Southeast Asian country, the two sides said Wednesday.
The sprawling web of investments by a Malaysian government fund at the center of a corruption probe now includes two former fundraisers for President Barack Obama and a hip-hop superstar.
The fund, 1Malaysia Development Bhd., paid private-equity group DuSable Capital Management LLC $69 million to buy its stake in a joint venture to develop solar power plants in the Southeast Asian country, the two sides said Wednesday.
The parties had signed an agreement in April 2014 giving DuSable a 49% stake, but 1MDB agreed to buy out the firm six months later, before construction had begun on any project, they said.
DuSable was founded in May 2013 by Frank White Jr., a member of Mr. Obama's 2008 national finance committee and a fundraiser for Hillary Clinton; Shomik Dutta, a former special assistant at the White House who worked previously as an investment banker; and Pras Michel, one of the original members of the band the Fugees and the artist behind the song "Ghetto Supastar (That Is What You Are)."
These investigations of Goldman Sachs by the Justice Dept and the FBI are just getting started.
And the trial against Goldman Sachs is just getting started. Legal scholars out there: since many of the principals in Libya are dead, how does this work?
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Hillary & Malaysia & Goldman Sachs & Money Laundering & Current FBI Investigations (Original Post)
amborin
Feb 2016
OP
Seems like corporatism may win out again, if trends continue. Good luck individuals of any type.
highprincipleswork
Feb 2016
#1
highprincipleswork
(3,111 posts)1. Seems like corporatism may win out again, if trends continue. Good luck individuals of any type.
Herman4747
(1,825 posts)2. HILLARY - TOO MUCH OF A RISK FOR NOVEMBER! n/t
Rockyj
(538 posts)10. Way to much!
Uncle Joe
(58,364 posts)4. Kicked and recommended.
Thanks for the thread, amborin.
TIME TO PANIC
(1,894 posts)5. K & R!
senz
(11,945 posts)6. K&R. We need a clean, honest president.
pdsimdars
(6,007 posts)7. FBI & Justice Dep't. need to speed it up
so we can have a clean candidate for the General Election . . .
and that would be Bernie.
Let's put the Clintons in the past where they belong.
kgnu_fan
(3,021 posts)9. money, money, money....
Octafish
(55,745 posts)11. Such Transparency.
Like an opaque miasma of conflicting interests and individuals, all helping each other keep their heads-up above what looks like oily water.
Bill Clinton Speech in Malaysia Irks Investors
By DON VAN NATTA Jr. (From The New York Times of December 05, 2008)
Mr. Clinton spoke before nearly 3,000 people in Kuala Lumpur at the invitation of Vinod Sekhar, a Malaysian businessman whose foundation paid Mr. Clinton $200,000, according to several people with knowledge of the fee. The figure is on the lower end of the scale that Mr. Clinton usually commands for his speeches.
You should be proud of this man, Mr. Clinton told the audience, pointing at Mr. Sekhar, the 40-year-old chief executive of the Petra Group, a privately held rubber technology company.
SNIP...
Mr. Clinton often praises companies that pay him to speak. In 2001, he received $125,000 from an Illinois management consulting company called International Profit Associates. It was later revealed that the Illinois attorney general was investigating accusations of deceptive marketing tactics by the company.
After a start-up Web search site named Accoona donated $700,000 worth of stock to his foundation, Mr. Clinton praised the company at a corporate event in December 2004.
I hope you all get rich, he told Accoona executives, but, remember, you are doing something good for humanity as well.
SOURCE: http://pgoh13.com/clinton_onmalaysia.php
It feels hypocritical, pointing out what I might do were I making big bucks off the billionaire class, until I think of what's happening to the planet and my country. Thanks for the important heads-up, amborin!