Goldman Sachs has been fined $2.9 billion by the US Department of Justice (DoJ) in a deal announced yesterday that closes one of the biggest corruption cases in the history of Wall Street. Together with a settlement reached with Malaysian authorities in July, Goldman Sachs will pay more than $5 billion for its involvement in the 1MDB scandal. While the amounts are large, the settlement follows the pattern of earlier deals on corruption. In return for an agreement to pay fines out of corporate revenue, the company and its executives escape prosecution for criminal activity. The financial penalties are simply written off as a cost of making profit.
— source wsws.org | 22 Oct 2020