Libya’s Sovereign Wealth Fund to sue Goldman over $1bn trades

[denem]

Source: Financial Times

Libya’s sovereign wealth fund has taken formal legal action in London against Goldman Sachs over allegations that the investment bank “exploited” the fund’s limited financial experience, forcing it into risky and ultimately lossmaking investments.

The claim, made in legal papers submitted by the Libyan Investment Authority on Thursday, rests on disputed equity derivatives trades amounting to in excess of $1bn.

The fund said these trades became worthless in 2011 despite delivering immediate and disproportionate profits to Goldman Sachs, estimated to be in the range of $350 million.


Read more: http://www.ft.com/intl/cms/s/0/6321c91a-89a6-11e3-8829-00144feab7de.html#axzz2rx6qfTXm

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I wonder how much GS made out of the Libyan War?

[Wilms]

1. .

[Demeter]

2. Not enough, I'm sure

How much is enough, for these sick, sick people?