The agreement between Goldman Sachs and the Malaysian government over the US bank’s work with 1MDB has inspired a number of ‘Goldman settles for $3.9 billion’ headlines. There’s a bit more going on beneath the surface, and not everything is resolved.
1. What’s in a number?
The $3.9 billion number is not what Goldman will be paying. That figure is $2.5 billion. The other $1.4 billion refers to a guarantee that the government of Malaysia will receive that amount in proceeds from 1MDB assets that have been seized around the world.
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