17.10.2016 - What price Goldman's reputation?
It is easy to look at the financial world today and see nothing but a spiral of disorder, dysfunction and decline perpetuated by bankers who preside and profit over controversy after controversy. Goldman Sachs won a $1 billion lawsuit brought against it by the Libyan Investment Authority (LIA). It is a sovereign wealth fund set up by former dictator Muammer Gaddafi with $65 billion of assets under management. The case was based on LIA’s claims that Goldman took advantage of its lack of investment knowledge and experience and pushed it into risky derivative trades in 2007 and 2008. The US bank allegedly made $200 million in profits while the LIA lost its entire $1.2 billion investment............................................Full Article: Source
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