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Sovereign Wealth Funds Briefing - Categorized | Investment, Performance

Goldman Sachs in Libyan investment fiasco

Posted on 02 June 2011

Bungling bankers at Goldman Sachs accidentally cost Libyan tyrant Colonel Gaddafi’s brutal regime more than $1bn, it has emerged. Libya’s sovereign wealth fund handed the Wall Street bank $1.3bn (£790m) in 2008 to invest as it saw fit.
But Goldman subsequently squandered 98% of the money on doomed investments in bank shares and currency, sparking a furious response from the despot’s officials……………………………………….Full Article: Source


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