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Author Topic: "Goldman Sachs Reportedly Offered Qaddafi Big Chunk of Company..."  (Read 1925 times)
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WhiskeyGirl
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« on: May 31, 2011, 08:14:03 PM »

"Goldman Sachs Reportedly Offered Qaddafi Big Chunk of Company After Investment Losses"

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Libya thought it was placing a sure bet when it gave $1.3 billion to Goldman Sachs to invest in currencies and other trades, according to The Wall Street Journal.

What it got: a 98 percent loss, followed by an offer of a huge chunk of Goldman shares.

Quote
But according to the Journal, Libya's thuggish ways were still so prevalent, that when two Goldman officials visited a top Libyan Investment Authority executive in Tripoli, they were so "rattled" by the meeting, they placed "a panicked phone call to their bosses" to arrange for security on their way out of the country.

Read more: http://www.foxnews.com/politics/2011/05/31/goldman-sachs-reportedly-offered-qaddafi-big-chunk-company-investment-losses/#ixzz1NyioPRim


What did Main Street get for their trillions in losses?  Obama debt?  Obamacash?  A hand up?  A hand out?

Inflation?  Tsunami of unemployment?  Despair? 
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WhiskeyGirl
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« Reply #1 on: June 01, 2011, 02:05:15 PM »

What about the billions lost by AIG?  The AIG pass-through?  American Taxpayers?

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A bitter rift has opened up between the world's most powerful bank and one of its most fearsome dictators after Goldman Sachs invested $1.3bn (£790m) of Colonel Gaddafi's money – and lost virtually all of it.

According to an investigation by the Wall Street Journal, Goldman offered to make Gaddafi one of its biggest investors as compensation for losing 98% of the money the Wall Street firm invested on behalf of the Libyan Investment Authority (LIA). This left the $53bn Gaddifi-controlled sovereign wealth fund, which elsewhere has stakes in companies such as Financial Times-owner Pearson and BP, with just $25.1m of the money it entrusted to Goldman.

...

Goldman lost the money – which it invested between January and June of 2008 in a range of options to buy currencies and shares at a future date for a stipulated price – after the collapse of Lehman Brothers panicked the markets and caused the underlying securities to crash in value.

read more here - http://www.guardian.co.uk/business/2011/may/31/goldman-sachs-libya-investment

What did other investors get?  Where did Goldman get the money to pay back all their losses?

Did the money just disappear overnight, one day in 2008?  Is this why taxpayers had to take on AIG, the AIG pass through, GM, Chrysler, and all the other TARP babies?
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
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« Reply #2 on: June 01, 2011, 02:06:50 PM »

"Everything You Need to Know About the Libyan Investment Authority"

Quote
Goldman Sachs traipsed into financial bed with Libya’s sovereign wealth fund, and it didn’t turn out very well for either side, as our Journal colleagues Margaret Coker and Liz Rappaport reported today.

Here is a look at the Libyan government’s investment fund, controlled by Col. Moammar Gadhafi:

Libyan Investment Authority

Headquarters: Tripoli

Assets: $40 billion, as of  June 2007 when it launched; $53 billion as of June 2010.

read more here - http://blogs.wsj.com/deals/2011/05/31/everything-you-need-to-know-about-the-libyan-investment-authority/
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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