Washington, D.C.  –  Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding a new Report on the details of the previously released RAP Sheet Report on Goldman Sachs’ 20 years of illegal activities:

“Goldman Sachs is a recidivist lawbreaker. That was demonstrated in a RAP Sheet Report Better Markets released in September. That Report showed that Goldman Sachs has been subject to 37 major legal actions that have resulted in over $13.7 billion in fines and settlements in the last 20 years. Those legal actions indicate that Goldman has committed dozens of illegal acts and preyed upon and ripped off countless Main Street Americans and many others.

“Moreover, the lengthy RAP sheet shows that Goldman’s alleged illegal behavior is not a one-off or an occasional outlier due to a rogue employee here or there, but appears to be part of a pattern and practice of business that regularly puts profit maximization above following the law. Nothing makes that more clear than Goldman Sachs’ involvement with the 1MDB global crime spree, as detailed in this prior Report. 

“The new Report we are releasing today details the 37 major legal actions that have resulted in over $13.7 billion in fines and settlements in the last 20 years. The Report lists each of those major legal actions in chronological order from April 2000 through July 2020, along with descriptions of the cases, the period of the violations, and the amounts involved as well as hyperlinks to the actions.”

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.