Goldman Sachs’ Bizarre Business Dealings with Libya Sovereign Fund

Submitted by Tractus Asset … on Sat, 06/04/2011 - 01:28

Goldman has successfully squeezed more money from Libya than the British govt. could from the Pan Am compensation. I suppose there must be MI6 agents working at GS. =b

It’s hard to comprehend why an Arab country would entrust their oil money with Goldman Sachs, given the deep cultural heritage of the firm's top managment.

“In 2008, The Libyan sovereign fund invested USD $1.3 billion in currency trades advised by Goldman Sachs. The investment lost -98% of its value. After the Libyan sovereign fund suffered the huge losses, Goldman then offered Libya the chance to become one of the investment bank’s largest shareholders.”