Blankfein Said to Have Been in 2009 1MDB Meeting

The transcript discusses a 2009 meeting between Lloyd Blankfein, then CEO of Goldman Sachs, and the former Prime Minister of Malaysia. This meeting, initially seen as routine, later became controversial due to its connection to the 1MDB scandal. The presence of Joe Lowe, a central figure in the scandal, was not seen as problematic at the time. The transcript explores the financial and reputational impact on Goldman Sachs, including potential regulatory actions. It also highlights compliance failures within the company and the role of Tim Leissner, a Goldman partner who withheld information. The discussion concludes with a reflection on the responsibilities of executives in cultivating international relationships.

What was the main reason for Lloyd Blankfein's meeting with the former Prime Minister of Malaysia in 2009?

• To address compliance issues

• To discuss a new business venture

• To establish a relationship with a developing nation

• To negotiate a merger

What financial consequence is Goldman Sachs facing due to the 1MDB scandal?

• An increase in bond sales

• A potential merger with a Malaysian bank

• Pressure to repay profits to Malaysia

• A decrease in stock prices

Which department's involvement is mentioned in relation to the 1MDB scandal?

• The Securities and Exchange Commission

• The Federal Reserve

• The US Justice Department

• The US Treasury Department

What was a significant compliance issue at Goldman Sachs related to the scandal?

• Accepting a banker's word without verification

• Ignoring market trends

• Failure to report profits

• Overestimating bond values

What role did Tim Leissner play in the compliance failures at Goldman Sachs?

• He improved the compliance system

• He withheld information from the firm

• He was unaware of the compliance issues

• He reported the issues to the authorities