November 07, 2018

Goldman Sachs’ Lloyd Blankfein has also a big question to answer us Venezuelans.

Sir, Brooke Masters writes that when “Sued by the US Securities and Exchange Commission over allegations it had misled clients about mortgage-backed securities… Lloyd Blankfein… launched a top-to-bottom cultural review and spent 18 months visiting clients to reassure them that Goldman had got the message on ethics.” “Goldman Sachs has big questions to answer” November 7.

So Masters rightly asks so what happened as “Last week, the US Department of Justice revealed that two former senior Goldman bankers had been criminally charged with helping to loot 1MDB, a Malaysian state investment fund that authorities allege was victim of one of the biggest frauds of all time.”

Sir, I have my own question. After Mr Blankfein’s much-touted ethics revamp in 2011, what on earth was he doing lending, in May 2017, to a notoriously human rights violating odious regime, namely Venezuela’s Maduro’s?

In fact, as I see it, corrupting not some government official but the regime itself, by offering fresh money in return for the possibility of huge returns, sounds to me as something quite punishable by US’s Foreign Corrupt Practices Act (FCPA).

We are now in November 2018, and Mr Blankfein has not found it within himself to yet utter the smallest “Venezuelans, I am so sorry”

Sir, what kind of elite do we have when a Lloyd Blankfein still gets invited to all kind of academic and social engagements?