G Sachs Financed HRC's SIL to Make Bullish Greek Bets After It Structured Unseemly Greek Debt Deals

[antigop]

Full title:
Goldman Sachs Financed Hillary Clinton’s Son-in-Law to Make Bullish Greek Bets After It Structured Unseemly Greek Debt Deals that Hobbled that Country

http://wallstreetonparade.com/2016/05/goldman-sachs-financed-hillary-clintons-son-in-law-to-make-bullish-greek-bets-after-it-structured-unseemly-greek-debt-deals-that-hobbled-that-country/

On May 10, the New York Times gently dropped a bombshell on the hedge fund investing world of New York’s one-percenters. Hillary and Bill Clinton’s son-in-law, Marc Mezvinsky, who married their only child, Chelsea, in an opulent 2010 wedding, was shuttering the Eaglevale Hellenic Opportunity Fund after it had lost 90 percent of its value. That is a staggering loss for a hedge fund, which is, as its name implies, supposed to have hedges in place to prevent that kind of loss.

The fund with the steep losses is part of a larger hedge fund firm run by Mezvinsky and two former colleagues at Goldman Sachs, Bennett Grau and Mark Mallon. The idea that a hedge fund should wait until it had only 10 percent of its clients’ assets remaining before shutting down is causing angst in billionaire circles, as are many other details surrounding this hedge fund. According to a 2015 article in the Wall Street Journal, the same fund had already lost 48 percent in 2014 – raising the question as to why it wasn’t shuttered then, when clients could have gotten a sizeable amount of their principal returned.
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According to the account in the New York Times, the Eaglevale Hellenic Opportunity Fund imploded as a result of bullish bets on Greek bank stocks and Greek government debt. That’s raising even more eyebrows in investment circles since it was Goldman Sachs who secretly sold a complex and convoluted derivative deal to Greece in 2001 that hid the true state of its debt, then reworked the deal multiple times until Greece ended up owing Goldman a stunning 5.1 billion euros, almost twice Greece’s original obligation, thus making future bullish bets on Greece highly doubtful. Along the way, Goldman Sachs learned more about Greek debt than just about any player on the planet.
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There is one last thing to remember about hedge fund losses. For every crushing trade, there is someone on the other side of that trade making a killing. As the public learned well from Goldman Sachs and John Paulson secretly creating a subprime debt investment designed to fail, while Goldman peddled it to their own clients as a good investment and Paulson shorted it to make a profit of $1 billion (the notorious 2007 Abacus deal), until we know whom the beneficiaries of this hedge funds’ losses were, we’re in the precise place that Goldman Sachs wants to keep us: in the dark.

[SoCalDemGrrl]

1. Very disturbing info

Not only has HRC accepted fees for speeches to Goldman Sachs - now we get info that
Chelsea's husband operated a hedge fund that Goldman backed.

Seems shady at best... hope this isnt as it appears or it may be that the presumptive Dem nominee is only nominally better than Trump. Jeez is this what the country has to offer us in 2016???

Scary stuff.

[laserhaas]

2. Apparently

[Midnight Writer]

3. We all know for a fact that Hillary is totally responsible for the business of her son-in-law

How could she have allowed her son-in-law to operate a hedge fund? And why would she allow Goldman Sachs to invest in his business? What was she thinking?

Another example of HRC's poor judgement.

[bahrbearian]

4. Why would she allow Goldman Sachs to invest in his business? $$$$ Thats what makes them happy.

They don't care how they get it.