"Having lost much of its central banker incubation skills over the past decade...in recent years Goldman Sachs has been best known for enabling and profiting wildly from Malaysia 1MDB criminal fraud, which culminated with the arrest of former Malaysia PM Razak, but not before Goldman made billions in illicit profits from selling bonds offered by the country's sovereign wealth fund.And while Goldman is still waiting to learn its criminal and civil fate...the company - which a decade ago was hoping to make billions from aggressively entering the carbon credit/offset market as profiled delightfully in Matt Taibbi's "The Great American Bubble Machine" - is already scheming how to profit from the latest round of anti-climate change euphoria, conveniently spawned by a 16-year-old child with Asperger's Syndrome.
On Monday, Goldman Sachs said it will provide $750 billion in financing, advisory services and investments for initiatives that fight climate change, as well as those that foster economic opportunities for under-served people over the next decade.
What Goldman did not say is that it will pocket a generous commission, somewhere in the 3-5% ballpark, by peddling "green" products to naive investors (including central banks) who have fallen for the whole ESG virtue signalling charade..."
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