Jun 1, 2011
Goldman Sachs Once Lost $1.3 Billion of Gaddafi's Money . . . And Needed Security to Get Out of Libya
Now THIS is choking under pressure. Because when a crazy, war-prone dictator picks you to invest his money . . . that's the one time when you REALLY shouldn't poop the bed.
In 2009, MUAMMAR GADDAFI, the dictator from Libya who's our new public enemy number one, had Goldman Sachs invest $1.3 BILLION of his money. And they didn't do a good job. Or even a remotely passable job.
In fact, they made such bad investments that they lost 98% of his money.
Two Goldman bankers actually went to Libya personally to tell Gaddafi his $1.3 billion was now down to $26 MILLION.
And he was SO ANGRY that Goldman actually had to send in a security team to help get its bankers out of the country.