Tag: Jay Clayton

One Man Has Set Up a $1.6 Billion Slush Fund to Fuel the Radical Right’s Takeover of Congress; Get Ready for a Dirty Tricks Campaign

Tina Marie (Ms. Cat)

By Pam Martens and Russ Martens: August 26, 2022

The New York Times dropped a political bombshell on Monday. The public interest website, ProPublica, built further on the story that afternoon. And, as luck would have it, Wall Street On Parade finds itself in the unique position of filling in missing pieces of the story thanks to an investigative report we published in 2010.

One Man Has Set Up a $1.6 Billion Slush Fund to Fuel the Radical Right’s Takeover of Congress; Get Ready for a Dirty Tricks Campaign

U.S. Attorney Geoffrey Berman’s Ouster: The Untold Story

Tina Marie (Ms. Cat)

U.S. Attorney Geoffrey Berman’s Ouster: The Untold Story

Goldman Sachs was, at the time of Clayton’s nomination to head the SEC, up to its eyeballs in one of the biggest financial frauds in history – a case involving a Malaysian sovereign wealth fund known as 1MDB. Goldman raised over $6 billion in bond offerings for 1MDB but, according to the Justice Department, $4.5 billion of that was “misappropriated” and used “to fund the co-conspirators’ lavish lifestyles, including purchases of artwork and jewelry, the acquisition of luxury real estate and luxury yachts, the payment of gambling expenses, and the hiring of musicians and celebrities to attend parties.” Goldman made more than $600 million in fees from the bond offerings, according to the Justice Department.