Quote: The contested statements were abstract and general. One example: “Our clients’ interests always come first.” Another: “Integrity and honesty are at the heart of our business.”
Goldman Sachs used those statements to sack Pension Funds in sates and cities across the U.S.A. and Puerto Rico. Puerto Rico is/was particularly affected due to having “no standing “* to argue its bankruptcy in American courts. Colonies never win against the powerful. Greed and corruption always walk together. Puerto Rico’s future generations of its dwindling population will pay those that sold the island using those contested statements.
Quote from APRIL 28, 2017: Goldman Sachs played an important role in causing Puerto Rico’s debt crisis by targeting the commonwealth with predatory financial deals. The bank helped underwrite $2.5 billion in capital appreciation bonds, the municipal bond market’s version of a payday loan, for which Puerto Rico will pay $18.8 billion in interest — an effective interest rate of 746 percent. https://inthesetimes.com/article/goldman-sachs-strongman-in-puerto-rico
* Standing is a legal term which determines whether the party bringing the lawsuit has the right to do so. Standing is not about the issues, it’s about who is bringing the lawsuit and whether they a legal right to sue. Key to understanding standing is that federal courts have specific jurisdiction over certain issues.Jan 26, 2016