Ahh, Goldman strikes again, makes Ethereum gains look like a pebble in a pond.
This is how the devil does business.
http://www.armstrongeconomics.com/armstrong_economics_blog/page/7Malaysia is becoming the poster-child for the crisis in emerging markets. The rising tensions between the people and government are clearly demonstrated by this story developing within the emerging markets. In Malaysia, we hear the central bank is recommending criminal prosecution in connection with the controversial investment fund 1MDB, the BBC reported. 1MDB was a sovereign wealth fund that was set up by Malaysian Prime Minister Najib Razak. The fund invested nearly $1.83bn abroad without using proper procedures. The investment bank Goldman Sachs is at the center of the criminal investigation in Malaysia since it organized 1MDB to raise U.S. dollar debt to finance acquisitions of power plants. Goldman Sachs also did the currency swap from dollars.
Goldman Sachs’ role has been highly criticized in the Malaysian media and political circles after it emerged that 1MDB paid hundreds of millions of dollars to the bank for helping it raise $6.5 billion in three bond deals in 2012 and 2013. Goldman Sachs earned around $590 million in fees plus commissions and expenses from underwriting the bonds, according to Reuters. The reported fees are highly excessive, nearing 10%, when such fees are typically only 1% in bond underwriting. Edit. Ethereum project all out of money.....someones needed to be paid for their services
