, Columnist
1MDB Scandal Is Becoming a Goldman Sachs Problem
U.S. charges paint a picture of wider institutional flaws.
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Goldman Sachs Group Inc.’s efforts to improve its public reputation since the financial crisis have paid off: There are now slightly more Americans who would be proud, rather than embarrassed, to work there, according to market research firm YouGov.
Whether those good vibes continue will depend on how the firm handles the fallout from the 1MDB scandal, where billions of dollars were siphoned from Malaysia’s development fund. The affair could metastasize into serious reputational black mark for the bank.