You can read up on Dragon

PeraclesPlease — Fri, 07 Feb 2014 06:30:03 +0000

In reply to How Goldman Sachs Rescued Libya

You can read up on Dragon speech software, where Goldman Sachs was supposedly advising the investors while sitting back and letting them sign away all their company to a bankrupt investor. Goldman Sachs eventually won the lawsuit about 12 years later, as in the end they weren't actually required to do anything to take their huge chunk of cash, and leading a lamb to a slaughter was just part of doing business.

As someone noted, losing $1 billion probably didn't affect Libya very much. I imagine freezing assets had much more effect. Still, it's some insight into how much a pariah was after they started cooperating in 2003 - good enough to steal from, and then a quick about face because of a protest in Benghazi? Funny, I don't see NATO grouping to invade the Ukraine right now, and probably the government there has killed more people.

Here is the NYT story the

EmmaZahn — Wed, 05 Feb 2014 22:44:52 +0000

In reply to How Goldman Sachs Rescued Libya

Here is the NYT story the above is riffing off of:

Libyan Investment Fund Sues Goldman Over Loss - NYTimes.com

and here are some about it I read a couple of years ago:

Goldman Sachs lost 98% of Gaddafi's $1.3bn investment | Business | The Guardian

Report: Goldman Angered Libya After $1.3 Billion Investment Vanished | Fox Business

What I thought was funny then was how Goldman offered to make things right by asking Libya to put up another $3.7 billion. That and how one of their prospectuses contained a typo putting a multiplier where a division sign was supposed to be.

Made me feel good about being out of that pressure-cooker industry.

dagblog - Comments for "How Goldman Sachs Rescued Libya"

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Here is the NYT story the