CommunityMy FDL

LIBYA: Perhaps we should release Gaddafi on Goldman Sachs

and the winner is. . . . THE WALL STREET SQUID*

Be very afraid. SQUIDS can not only take out large whales, they can destroy the economies  of nations

I don’t know about you, but my money would be on the squid. I think Gaddafi would lose that battle if we pitted the two against each other.  However there is still a downside to that story: The Squid gets even fatter.

_________________________________________________

NPR reports that Libya lost more than $1 billion with a Squid* Investment.

Back in 2008, when Libya was making inroads with the Western world, it also wanted to get in on the global economic boom. So,the Wall Street Journal reports, Libya’s sovereign-wealth fund, which is controlled by Col. Moammar Gadhafi, gave $1.3 billion dollars to Goldman Sachs so they could invest it for them.

According to the Wall Street Journal, which relied on internal documents and interviews with Goldman executives for its report, by the time all was said and done Goldman had failed miserably to make any money for the Libyans. In fact, the investment dwindled to $25.1 million by February of 2010. That’s a 98 percent downturn caused by the global financial crisis.  MORE

_________________________________________________________

*Matt Taibbi of Rolling Stone, describes the company as a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.”

 

Previous post

Hoyer Asks Democrats to Vote Against Debt Limit Kabuki

Next post

Gender Rights Maryland announces membership of its Boards

Liz Berry

Liz Berry

4 Comments