2011-06-08nonprofitquarterly.org

"The Goldman charitable pledge to small business looks pretty paltry, especially considering one odd potential recipient of the firm's generosity. In 2008, the sovereign-wealth fund of Libya invested $1.3 billion with Goldman Sachs. Goldman helped the Qaddafi regime just about as much as it helped the U.S. housing market -- it lost 98 percent of the value of the Libyan investment within two years. The Libyans weren't happy, they went berserk. Goldman decided to try to mollify the Libyans by selling Qaddafi a $3.7 billion ownership stake in Goldman Sachs, which would have made Libya (or Qaddafi) one of the company's top owners."


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread