In the afternoon, Chen Hui received more than a dozen phone calls one after another, all about Goldman Sachs!

The corners of his mouth smiled slightly, and he said secretly: "Let's do a good job of Goldman Sachs Group!

At 5 o'clock in the afternoon, Goldman Sachs Group was exposed to a sex scandal: hiring a famous Russian prostitute to lure investors!

Hong Kong media said that the investment bank Goldman Sachs Group was suspected of using 500 pounds (about 4,823 yuan) to buy prostitutes to lure a Libyan investor in the United Kingdom to promote a huge business, but the investment finally failed, and the Libyan Investment Authority is ready to appeal to Goldman Sachs for compensation.

The case will be heard in the British High Court next week, and the identity of the prostitute involved has also been revealed, according to the Oriental Daily newspaper in Hong Kong.

The Libyan Investment Authority announced that it will appeal to Goldman Sachs Group for 846 million pounds (about 8.161 billion yuan) to compensate for its investment losses.

According to media disclosures, Goldman Sachs Group senior Kabajie invited Libyan former leader 'Kafi Era' LIA to invest in 2007, and was suspected of providing prostitutes and hotels to Zati, the younger brother of LIA executive Mustafa.

According to the news, Kabajie provided Zati with a free business class ticket to Dubai, a five-star hotel room, and paid another 425 pounds (about 4,102 yuan) to arrange for him to spend the Spring Festival with two prostitutes, so that Zati persuaded Mustafa to sign a contract with Goldman Sachs. One of the prostitutes reportedly hired by Kabajie was Michaela, a famous Russian prostitute, who reportedly earned as much as 500,000 pounds (about 4.82 million yuan) a year. She responded that the guests from 8 years ago did not remember it for a long time.

Goldman Sachs jumped out to speak and immediately denied the incident, while Kabajie issued a statement saying that Goldman Sachs or himself did not pay any LIA staff and provided improper entertainment.

Goldman Sachs' approach at this moment has been spurned by countless people.

At 6 o'clock in the evening, the Goldman Sachs Group's aluminum price manipulation incident began to ferment, and the Hong Kong Stock Exchange and its London Metal Exchange (LME) were also involved.

The LME and Goldman Sachs have been indicted as co-defendants, according to the Hong Kong Joint Transaction. According to the Exchange, the lawsuit alleges "anti-competitive and monopolistic practices in the warehousing market involving aluminium prices", and the LME management, after an initial assessment, believes that the lawsuit has no legal basis and that the LME will take active grievance measures.

U.S. officials announced that they have also begun an investigation into the metal warehousing of Wall Street investment banks, especially two sources familiar with the situation, saying that the U.S. Department of Justice will send letters of inquiry to at least two companies that have warehousing operations to investigate their operations.

Due to the impact of increased regulation and declining profits in the raw materials business, the major investment banks on Wall Street are shrinking the size of their commodity departments!

Mo'Geng' Chase said that it is considering withdrawing from the physical commodity trading business.

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Goldman Sachs Group said: There is no factual basis, it is completely false!

And a global commodity regulatory storm is about to blow from Wall Street, Wall Street financial giants control delivery warehouses and logistics, manipulating commodity prices began to unveil the black curtain, the interests of the most damaged is Asia's non-ferrous metal processing enterprises and consumers, but as of now, many Asian companies are ready to sue for claims!!

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At 7 o'clock in the evening, Goldman Sachs Group is once again on the cusp of a fraud scandal!

A nine-member jury in federal court in New York ruled that Fabreth Tool, a former Goldman Sachs vice president, was legally liable for six of the seven charges in the fraud case, and that Toole could now be barred from working in securities in addition to fines.

Because of the false claim to be long, investors lost more than $1 billion

Before the fraud scandal broke, Tours, who was in his early thirties, was proud in the financial world. He graduated from the Department of Mathematics at the École Centrale de Paris in 2000 and obtained a master's degree in operations research from Stanford University the following year.

In 2001, Tours joined Goldman Sachs in New York. Six years later, at the age of 28, Tourer became a vice president at Goldman Sachs. In late 2008, he was transferred to Goldman Sachs' London office and registered with the Financial Services Authority ("FSA") on November 24, 2008.

In April 2007, Tours was awarded $2 million for the launch of the subprime mortgage-based SyntheticCDO product, Abacus2007-AC1, which was the culmination of Tours' successful offering.

The trading product is a response to hedge fund magnate John Paulson, who asked Goldman Sachs to help him develop a security product that he planned to short in anticipation of an imminent collapse in the housing market. To this end, Goldman Sachs brought in ACA, a CDO (collateralized debt-backed securities) asset management company, and asked ACA to select the underlying assets that make up the MBS.

But in the course of its public pitch to investors, Goldman Sachs allegedly misled investors into believing that John Paulson would be long the securities. Witnessing the court, Laura Schartz, a former head of asset management at ACA's management firm, said, "Goldman Sachs and Paulson have never attempted to correct the ACA's misconceptions—whether by email, phone or meeting." ”

In fact, Paulson made a profit of $1 billion by shorting Abacus, Goldman Sachs as an intermediary made about $15 million to $20 million in design and marketing expenses, and the investors who bought the MBS suffered huge losses.

Some media outlets in the United States began to denounce Goldman Sachs, calling Goldman Sachs a "blood-sucking squid who ruthlessly inserts straws into anything that smells like money"

Goldman Sachs immediately called the accusations "baseless"

The SEC just got enough evidence!

Everything was put on hold for a few years because there wasn't enough evidence, but now the evidence is overwhelming, and the head of the SEC's Enforcement Division, Robert Kuzami, declared: "This new financial product is complex, but the fraud and conflicts of interest in it are simple and old." Goldman Sachs mistakenly allowed a client who had a profound influence on the mortgage-backed securities in its portfolio to short the mortgage market, and Goldman Sachs also made false representations to other investors that the securities were invested in by an independent and objective third-party firm. ”

The SEC will once again file a civil lawsuit in federal court in Manhattan, New York, accusing Goldman Sachs of allegedly defrauding investors, causing investors to lose more than $1 billion!

In response to the SEC's allegations, Goldman Sachs once again called the allegations "baseless", while emphasizing that Goldman Sachs itself lost as much as $90 million in related transactions, and that it was "not obliged" to explain the identity of the other party to the buyer and seller of financial products.

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At 8 p.m., Greg Smith, a former Goldman Sachs employee, published an open letter in the New York Times, titled "Why I Left Goldman Sachs," accusing Goldman Sachs of being "toxic," morally corrupt, and treating clients as "idiots" and "marionettes."

Jake Sieert is arguably the hapluckiest PR man of all time, having just announced the appointment of Global Head of Corporate Communications and Managing Director at Goldman Sachs last month. It's a big hassle this time.

A graduate of Yale University, Jake has extensive experience as a press secretary for the Clinton administration dealing with its scandals, and his most recent job was as an aide to Geithner at the Treasury Department.

A professor in Washington said of him: "He is a perfect fit for the job, he is low-key, knowledgeable and experienced." In a place like the White House, there are all sorts of difficult problems to deal with, much like Goldman Sachs. ”

However, "it is harder to turn public opinion around than to climb to the sky", a veteran journalist who has been following investment banks for a long time believes that "after the financial crisis, Goldman Sachs is a steady stream of material for the media." Now the media is staring at it, and the slightest incident will cause a storm in the city. ”

Changing his habitual silence, Goldman Sachs CEO Lourde Bellencevan reacted quickly and immediately issued an open letter in response, in which Frank Vanfan said that he was very disappointed, and he believed that Smith's personal views on Goldman Sachs were quickly amplified in the media. According to a recent client survey, 89 percent of clients believe that Goldman Sachs employees have provided them with excellent service, Blanke wrote.

Mike, the former managing director of Goldman Sachs, said in an interview with New Finance: "In fact, Smith is only a VP (vice president), not an executive, and is considered a middle-level. ”

At Goldman Sachs, there are nearly 12,000 vice president-level employees, and Mr. Blanke said clients are more satisfied with them at this level, according to Mr. Blanche.

"Given the size of the company, it's not surprising that there are a few disgruntled employees, but that shouldn't be representative of the other 30,000-plus employees at Goldman Sachs," Behran said. According to foreign media reports, Blank Van and Goldman Sachs executives spent a lot of time discussing with shareholders and customers on the matter, and talked internally with Smith's leaders and colleagues in the UK, hoping to understand the "real situation".

At the same time, Morgan Stanley, another super investment bank, has supported Goldman Sachs, and its CEO Gorman has told employees not to "fall into the trap" and not to spread the word and comment on it.

"Everyone was very relieved, but no investment bank on Wall Street did that. An investment banker told reporters about his views on the matter, "Why so many people are willing to do business with Goldman Sachs is not necessarily like Goldman Sachs, which is very revealing." In fact, Goldman Sachs is a very respected firm in terms of business capabilities. ”

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However, Smith described Goldman Sachs in the open letter as follows: "In the past, Goldman Sachs' culture has always revolved around teamwork, integrity, humility, and always thinking about the interests of the client, and the culture of Goldman Sachs in the past was not just about making money, because that was not enough for a company to stand for such a long time." ”

"And now, if you can make enough money for Goldman Sachs, you can get a promotion and be more influential," Smith wrote. ”

At the end of the 70s of the 20th century, Goldman Sachs clearly stipulated the 14 business principles, the most important one is: "the interests of customers are always first", however, Goldman Sachs, which has repeatedly broken out "scandals", has proved that making money is far more important than the interests of customers.

Mike recalled: "The change in Goldman Sachs' culture began when Paulson stepped down and Belranke came to power. Previously, Goldman Sachs was an entirely investment bank, mainly in the advisory business. And Blank Van represents a group of traders. ”

Looking at Frank's resume, he was appointed co-head of Goldman Sachs' commodities division in 1994 and moved to London in 1997 as co-head of fixed income.

For traders, there is no need to contact customers at all, they only need to sit in front of the computer screen, buy and sell according to the analysis of information. Since then, all of the growth of Goldman Sachs' business has come from proprietary trading.

By 2009, Goldman Sachs' advisory business was less than 20 percent of the total. It can be said that Goldman Sachs is no longer a pure investment bank, it has become the largest hedge fund in the world. At that time, many of our partners were lamenting the change in culture, and the biggest problem not only with Goldman Sachs, but also with all the big investment banks, was the problem of conflict of interest. ”

Mike added: "Greenspan's liberal economists think the market can solve the problem, but sometimes the market solves it in a way that the public can't afford. In addition, they also believe that with the rise of computers, it is impossible to bring customers the same crisis as in the 30s of the 20th century, and various computer models can reduce the risk to a very low level, but the key is that computers are still mastered, and greed is prone to problems. ”

One of the reasons Mike left Goldman Sachs is also related to culture: "At that time, there was a new group of MDs (managing directors), most of whom were traders. The company asked me to do derivatives trading as well, and I don't think that's what I want to do. ”

Standard Chartered declared: "Once the customer was God, now, Goldman Sachs has been repeatedly questioned for making money first, and ignoring the interests of customers."

HSBC's media: "It is estimated that Blank will step down this year, because in his eyes, customers are fools!"

Bank of America media: "Goldman Sachs has obviously treated its customers as idiots, and its money always goes to Goldman Sachs' pockets!"

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Goldman Sachs' reputation has been greatly affected, but I didn't expect it to be a backyard fire this time.

Accusations from employees, the lethality is huge!

One stone stirred up a thousand waves, Goldman Sachs' stock price plummeted, and finally because of this series of scandals that were announced at the same time, the market value evaporated a total of $10 billion in less than two days!

More than the market value of Standard Chartered Group that has evaporated due to money laundering!

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On Friday night, in the Temasek Building, Chen Hui said on the phone: "Send Greg Smith, a former employee of Goldman Sachs, to the UK, don't let him die!"

In order for Greg Smith to break the news of Goldman Sachs in public, the people on Chen Hui's side spent $1 million!

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And Goldman Sachs Group headquarters, chairman and CEO, Lauld Belrankfan, is extremely angry!!

Goldman Sachs Group's share price has been sold off, and its market value has evaporated so many billion!

On the board of directors, he was criticized!

A lot of directors scolded him for being a fool!

To break the news about the money laundering scandal of the Standard Chartered Group, and now the Standard Chartered Group has also broken the news of their scandal, obviously they have lost more, and it is the accusation from the employees, and the lethality is very huge!

It has had a great impact on the reputation of Goldman Sachs Group!

Now it's 800 kills and 1,000 self-losses!

The assistant on the side thought for a while and said, "President, should we let people kill this traitor who took money to speak?"

Rauld Belrankfan, said: "Wait for the limelight to pass, it's not appropriate now!"