Goldman Sachs is rumored ever invest funds belonging to the Libyan government in 2008 worth U.S. $ 1.3 billion. The funds are placed in portfolio investment and other trading currencies. The Wall Street Journal reported 98% of the value of the investment is lost and make Goldman a big loss.
At that time, funds are still controlled by Muammar Khaddafi which is currently in conflict with his subjects and NATO. As a consequence of that loss, Goldman never give in Libya’s bid to become one of the shareholders in these financial institutions. [Read more...]