Sachs shares fall after Bank of America says 1MDB scandal uncertainty could 'linger'

[laserhaas]

Source: CNBC

Link to tweet

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Bank of America Merrill Lynch analyst Michael Carrier downgrades Goldman to neutral from buy and slashes his price target on the stock to $225 a share from $280.
“While we view the current valuation as discounting most of the potential negative scenarios related to 1MDB, we only have limited information and the uncertainty could linger for a while and limit the upside potential if markets stabilize,”

Shares of Goldman Sachs fell nearly 2 percent Friday after an analyst at Bank of America Merrill Lynch said the stock’s gains could be capped as a scandal related to the Malaysian government investment fund festers.



Read more: https://www.cnbc.com/2018/11/30/goldman-sachs-shares-fall-after-bank-of-america-says-1mdb-scandal-uncertainty-could-linger.html

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Wait till Sachs new CEO gets a load of me!

[Power 2 the People]

1. They'll all get away with it.

[dixiegrrrrl]

3. Been getting away with it for many years.....here's a small sample of incidents.

sept. 22, 2014
[div class="excerpt"]Bank of America,
Western Union, and JP Morgan, are among the institutions allegedly involved in the drug trade. Meanwhile, HSBC has admitted its laundering role, and evaded criminal prosecution by paying a fine of almost $2 billion. The lack of imprisonment of any bankers involved is indicative of the hypocritical nature of the drug war; an individual selling a few grams of drugs can face decades in prison, while a group of people that tacitly allow — and profit from — the trade of tons, escape incarceration.
https://www.huffingtonpost.com/avinash-tharoor/banks-cartel-money-laundering_b_4619464.html

2012:
Mexican Drug Cartel Laundered Money Through BofA, FBI Alleges
https://www.huffingtonpost.com/2012/07/09/los-zetas-laundered-money-bank-america_n_1658943.html

March 24, 2017:
Global banks handled laundered Russian cash worth hundreds of millions
Some of the world's biggest banks processed hundreds of millions of dollars reportedly from a vast Russian money-laundering scheme.....major U.S. banks including Bank of America.
https://money.cnn.com/2017/03/24/news/russia-money-laundering-global-banks/index.html


Feb 24, 2018
Here’s the staggering amount banks have been fined since the ( 2008) financial crisis
Bank of America, JPMorgan Chase have paid the largest fines
levies against Rabobank and U.S. Bank over bank secrecy and anti-money-laundering violations.(chart follows on the link)
https://www.marketwatch.com/story/banks-have-been-fined-a-staggering-243-billion-since-the-financial-crisis-2018-02-20

[Progressive Jones]

2. Nothing will change until a gallows is erected on Wall St. nt