The New Sovereign Investment Fund of Libya or of Colonel Qaddafi, there is no distinction in the money funds of Libya or Qaddafi, invested $1.3 Billion with Goldman Sachs; the bank used the funds on stock options at a variety of international banks and a collection of currency bets. Two years later, the Libyan fund had lost 98% of its value and was worth only $25.1 million.
Officials of Libya’s sovereign wealth fund were upset with Goldman Sachs and accused them of malfeasance; mainly, for making trades without authorization and misrepresenting investment deals.
“It was a three-minute decision, and the first two were for coffee.” – Former Secretary of Defense, Donald Rumsfeld, December 16, 2003, on the initial decision to hand interrogation matters regarding Saddam Hussein, over to the CIA. That decision was soon redacted:
Newsbusters is reporting on a NBC News broadcast in which they detail the new book “The Terrorist Watch: Inside the Desperate Race to Stop the Next Attack” by Ronald Kessler. The book describes the FBI agent, George Piro, who gained the confidence of Saddam Hussein after his capture over many months and what Saddam told… Read more »