Goldman Sachs: Information, Comments, Opinions and Facts: How Libya Almost Became One of Goldman Sachs' Biggest Shareholders

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Tuesday, May 31, 2011

How Libya Almost Became One of Goldman Sachs' Biggest Shareholders

Wall Street Journal reports:

In early 2008, Libya's sovereign-wealth fund controlled by Col. Moammar Gadhafi gave $1.3 billion to Goldman Sachs Group to sink into a currency bet and other complicated trades. The investments lost 98% of their value, internal Goldman documents show.

What happened next may be one of the most peculiar footnotes to the global financial crisis. In an effort to make up for the losses, Goldman offered Libya the chance to become one of its biggest shareholders, according to documents and people familiar with the matter.

read the rest here.

1 COMMENTS:

Anonymous said...: Sanford's Brad Hintz Explains Why There Will Never Be Any Justice In America

From a note just released by Sanford C. Bernstein & Co. Brad Hintz:

"Goldman Sachs wont face criminal precaution related to sales of mortgage linked securities because such a move could threaten the US financial system."

Really, that's all you need to know.

http://www.zerohedge.com/article/sanfords-brad-hintz-explains-why-there-will-never-be-any-justice-america?; June 1, 2011 at 11:19 AM

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