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"Get Out Of My Country" Libyan Sovereign Wealth Fund "Screwed" By Goldman

Tyler Durden's picture




 

You can mess with Greece with only modest repercussions, but, as Bloomberg reports, mess with Libya and trouble comes fast. In a strangely familiar case of deja vu, Libya’s sovereign wealth fund (LIA) sued Goldman Sachs over money-losing investments made in 2008, saying the bank exploited the LIA’s inexperience to sell risky derivatives. An LIA executive cursed at the Goldman bankers that they had "screwed" him and threatened "get out of my country," according to witness statements, adding that "he would come after their families."

As Bloomberg reports,

The $60 billion Libya Investment Authority fund, established under former Libyan ruler Muammar Qaddafi, grew to be Africa’s second-largest sovereign wealth fund by the time he was deposed and killed in 2011. Some of the firm’s investments proved disastrous, leading to attempts to restructure deals, regulatory investigations and multi-billion dollar lawsuits.

 

Libya’s sovereign wealth fund sued Goldman Sachs over money-losing investments made in 2008, saying the bank exploited the LIA’s inexperience to sell risky derivatives. The case is the largest of dozens of U.K. lawsuits against multiple lenders where bank clients from German water providers to Italian regions say they were sold unsuitable financial products.

 

...

 

Former LIA executive Mustafa Zarti was so angry about bad investments that he cursed at the two bankers, Youssef Kabbaj and Nick Pentreath, in English and Arabic - telling them the lender had “screwed” the sovereign wealth fund, according to the LIA’s evidence at a London court hearing yesterday - after questioning some of the fund’s 2008 trades with Goldman, according to Catherine McDougall, a lawyer at a London law firm who was temporarily assigned to the LIA at the time.

 

“Get out of my country,” McDougall recalled Zarti as saying in a witness statement she prepared for the LIA in a $1 billion lawsuit against Goldman. The bankers gathered their things and left quickly, she said.

 

Zarti “launched into a very angry tirade, saying that he had a bad side as well as a good side and that he could come after their families,” McDougall said in the statement.

 

...

 

This week’s hearing is the first in the case that was filed in January. The LIA asked to schedule the lawsuit for a 30-day trial in January 2016.

 

Judge Vivien Rose today ordered Goldman to pay 200,000 pounds ($322,000) of the LIA’s legal fees from the bank’s bid to have the case thrown out. Goldman abandoned the attempt in August.

 

...

 

“It was readily apparent to me that Goldman had unfairly taken advantage of the L.I.A.’s lack of financial sophistication and the trust and confidence that the various members of the L.I.A. had reposed in them and had sold the L.I.A. $1 billion worth of derivative products that the L.I.A. did not properly understand,”

 

...

 

Roger Masefield, a lawyer for the LIA, told the judge at the hearing that the fund didn’t understand that it was investing in derivatives instead of shares, and wasn’t aware it was in a position to negotiate better terms for the trades.

 

“Their trust was misplaced,” he said.

 

The New York-based bank also said in its court documents that the lawsuit is a “paradigm of buyer’s remorse.”

*  *  *
Doing god's work...or Muhammad's?

 

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Tue, 10/07/2014 - 18:02 | 5300912 TeamDepends
TeamDepends's picture

We've all been there.

Tue, 10/07/2014 - 18:16 | 5300959 kaiserhoff
kaiserhoff's picture

Love this piece.

That's the way to talk to the Squid.

Tue, 10/07/2014 - 18:23 | 5300980 Pool Shark
Pool Shark's picture

 

 

You mean Blankfein has a price on his head???

 

Cool...

 

[Zarti = Hero]

 

Tue, 10/07/2014 - 18:34 | 5301017 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

Look, we just need to gather up all of these bankster scumbags, dress them in US military garb and drop them into an ISIS hot spot...problem solved.

Tue, 10/07/2014 - 18:55 | 5301088 Latina Lover
Latina Lover's picture

Goldman screwing their customers,  Yawn. 

Goldman feeling remorse for their crimes and making good to their clients, now THAT'S a story.

Wed, 10/08/2014 - 02:07 | 5302099 All Risk No Reward
All Risk No Reward's picture

Where is Libya's gold and billions stolen from the people by Gaddafi and then stolen by Morgan and Goldman.

Punks.

Tue, 10/07/2014 - 19:03 | 5301117 Bossman1967
Bossman1967's picture

give them all ebola I say fucking bankers are like a loose pussy good for nothing

Tue, 10/07/2014 - 18:49 | 5301072 Bilderberg Member
Bilderberg Member's picture

Well at least you can say Goldman is not racist....They sell "shitty deals" to everyone!

Tue, 10/07/2014 - 19:07 | 5301129 negative rates
negative rates's picture

Plus no one got out alive, congrets their Betty.

Tue, 10/07/2014 - 19:31 | 5301180 logicalman
logicalman's picture

croudsource?

Tue, 10/07/2014 - 18:24 | 5300990 TeamDepends
TeamDepends's picture

It's just a squid! And squid have frailties. For instance, we all know squid are slimy. But mention this to a squid and they start shooting ink everywhere....

Tue, 10/07/2014 - 19:53 | 5301250 frankly scarlet
frankly scarlet's picture

I wouldn't. GS is quite capable of handling disgruntled clients who become beligerant. Nail gun pin the tail and free flying lessons for those who want to up the ante, unless you can hire a triad to even the score.

Tue, 10/07/2014 - 19:49 | 5300968 Richard Chesler
Richard Chesler's picture

“Their trust was misplaced"

WTF did they expect? Honest financial advice from GS?

BWAHAHAHAHA....

 

Tue, 10/07/2014 - 18:59 | 5301109 WhackoWarner
WhackoWarner's picture

Yes.  I recall 2 decades ago taking a broker's advice.  (CIBC Canada) Only to find shares being "borrowed" out of my account as part of some scheme.  Got a notice in the mail confirming a trade of shares that I had never made.  A SELL confirm....a sale I never made.

So having got a 'trade confirmation of shares" and being a semi-idiot I asked questions.

 

I no longer deal with brokerages unless self-directed.  And does that protect? 

Tue, 10/07/2014 - 18:05 | 5300915 sessinpo
sessinpo's picture

It would probably be easier to kill Goldman execs by inviting them to Libya to get some of that Ebola.

Tue, 10/07/2014 - 18:16 | 5300958 buzzsaw99
buzzsaw99's picture

yep. a big wet kiss would be a better punishment.

Tue, 10/07/2014 - 19:09 | 5301133 WhackoWarner
WhackoWarner's picture

Kill nobody.  JUST kill the system.  It is this accepted system.  Much as people may wish to throttle individuals.  If this house of cards comes down so will a great amount of the theives.

 

I have no energy left to target one person.  it is not Dimon or Madoff. Or the idiot in Omaha.  it is the pervailing subservience to frac/reserve debt banking.  Makes no sense to target one person or 50 people.

 

TAKE YOUR MONEY out of any possible control.     Only way.   Cash out every bond. Every stock.  Close all bank accounts beyond day-to-day cash for 6??? months....get your own personal savings way way way far away from any bank/brokerage/ETF/hedge fund.

 

Just take your money OUT.  I mean OUT.  Put it as far away from their control and into your own.  Buy a bigger mattress.  Dig a bigger hole in your backyard.

 

GET the frig out of the system.

Tue, 10/07/2014 - 20:27 | 5301323 Oldwood
Oldwood's picture

We seek violence in vengeance, but it will only accomplish an effect opposite of our desires. What you suggest is the ONLY solution. The money, the power, MUST be removed from their hands. We have been lured into believing that democracy is our savior when in fact it is the tool they are using to take everything away from us. Our only true power, our only real vote is how we use our money. How we spend it, where we invest it, where we stack it and how we earn it. Once we are willing to recognize and admit to ourselves where the problem lies, only then can we change it. We have borrowed their imaginary money to buy imaginary happiness and indebted ourselves to them, not just in imaginary money but with our lives. We have used this imaginary money to buy goods from other countries, voluntarily abandoning our very own economy, our jobs, all with the promise of the very people perpetrating this farce upon us that it is the path to providence. WE must choose to stop it, as only WE can. They cannot, will not EVER end it as long as we play along, voluntarily surrendering our lives to them. Agreed whacko, agreed. Get the frig out.

Wed, 10/08/2014 - 06:26 | 5302275 messystateofaffairs
messystateofaffairs's picture

You do realize that the people who benefit from the system are willing and able to kill you if you should do anything meaningful to change their system. Violence is well entrenched in their culture.

Tue, 10/07/2014 - 18:06 | 5300918 stant
stant's picture

Can't wait for that reality show squid hunters.

Tue, 10/07/2014 - 18:08 | 5300919 curbjob
curbjob's picture

Mustafa Zarti just made the terrorist list. Drone strike in 3...2..1.

Tue, 10/07/2014 - 18:07 | 5300922 knukles
knukles's picture

"What goes around, comes around"

Tue, 10/07/2014 - 18:07 | 5300924 H. Perowne
H. Perowne's picture

Please wake me when vampire squid minions are having their heads lovingly sawn off in staged videos.

Tue, 10/07/2014 - 18:12 | 5300926 loveyajimbo
loveyajimbo's picture

Is this guy really going after the high-ups at Goldman? 

Does he have a donation site set up so we can send him contributions? 

 

Wed, 10/08/2014 - 00:37 | 5301042 JuliaS
JuliaS's picture

Mustafa Zarti should get a kickstarter campaign going. With ZH readers alone it'll be fully funded in under a minute.

Wed, 10/08/2014 - 01:13 | 5302048 COSMOS
COSMOS's picture

Be hard to get to the GS boys up high, they recruit former Mossad agents as their security personel.  The Jewish Mafia is heavily intertwined with the political power structure of Israel.

Tue, 10/07/2014 - 18:07 | 5300927 lynnybee
lynnybee's picture

that sounds like a good name for a club :   SCREWED by GOLDMAN.    

Tue, 10/07/2014 - 18:27 | 5301003 Pool Shark
Pool Shark's picture

 

 

That's not a club, that's the majority of the earth's population...

 

Tue, 10/07/2014 - 18:35 | 5301015 Zhuge Liang
Zhuge Liang's picture

the mentality and behavior displayed by Goldman in Libya and throught the world is at the very root of why the world looks like it does.  situational ethics...   the gift that keeps on killing.

Tue, 10/07/2014 - 20:07 | 5301279 bonin006
bonin006's picture

It's a big club, and we're all in it.

Tue, 10/07/2014 - 18:08 | 5300933 SmittyinLA
SmittyinLA's picture

This was during the Bush "libya and Kadaffi is our friend" era..... then we promptly stabbed him in the back (literally)   

Im betting the new regime isn't pressing the case as hard as the old regime, they'll take whatever GS says is left, then repeat the same investment

Tue, 10/07/2014 - 18:19 | 5300966 Philo Beddoe
Philo Beddoe's picture

If Kim Kardashian is their Minsiter of Finance..maybe. Aside from that, I would not bet on them making the same mistake twice. 

Tue, 10/07/2014 - 18:10 | 5300939 Bastiat
Bastiat's picture

Bloomberg says:  "deposed and killed."  "Murdered" is more accurate.

Tue, 10/07/2014 - 18:49 | 5301076 JuliaS
JuliaS's picture

Gaddafi settled for an early retirement following Saddam's unfortunate necktie incident.

Tue, 10/07/2014 - 18:14 | 5300953 gwar5
gwar5's picture

I also seem to remember there was $30 Billion USD of Libyan money under management at GS, JPM, et al, at the time Mohammar got wacked (not to mention the 100 tons of gold in Libya). 

 

Mohamer spread his money spread around with the cartel banks for protection until they turned on him.  So when Mohammer was killed anybody know what happened to the $30 Billion? 

The Libyan rebels were setting up a central bank even as the fighting was still going on! How does that happen?  How much did the squid get?  Those inquiring muslim minds over there want to know.

Tue, 10/07/2014 - 18:53 | 5301090 Bastiat
Bastiat's picture

Let me guess:  the first act of that "central bank" was to "lease" out all the Libyan gold.

Wed, 10/08/2014 - 01:44 | 5302082 trulz4lulz
trulz4lulz's picture

Good memory. They "leased" it out on a cargo plan direct flight to London from what I remember. Several hundred tons of the stuff. What a heavy burden for the people of Libya to have to carry.

Tue, 10/07/2014 - 18:16 | 5300961 ToNYC
ToNYC's picture

It's the new normal, I'm afraid.

Tue, 10/07/2014 - 18:17 | 5300962 Seize Mars
Seize Mars's picture

Judge Vivian Rose.
That about says it.

Tue, 10/07/2014 - 19:39 | 5301207 Monty Burns
Monty Burns's picture

I was thinking the same thing.  Love to know her maiden name.  If it's what I think it is the poor old Libyans are fucked.

Tue, 10/07/2014 - 18:23 | 5300983 lincolnsteffens
lincolnsteffens's picture

Sounds like Libyans understand how to take care of lawlessness. When the big guys ruin you financially you either get the law after them or if there is no law you take care of the problem yourself.

It seems to me like the State and local Municipal cops that steal people's money through "asset forfeiture" just because the cop thinks you have more than you should, people may take their own action if the law fails them. 

It seems to me Justice Brandeis said something like the government leads by example. If the government is lawless the people will follow.

Tue, 10/07/2014 - 18:27 | 5301002 Philo Beddoe
Philo Beddoe's picture

 If the government is lawless the people will follow.

Andy Dufresne: You know the funny thing is, on the outside I was an honest man, straight as an arrow. I had to come to prison to be a crook.

Tue, 10/07/2014 - 19:40 | 5301210 Optimusprime
Optimusprime's picture

Keep that scum Brandeis out of it--he is the Jew who implemented the Balfour Declaration and got the US into WWI, ruining the rest of the twentieth century.

Tue, 10/07/2014 - 18:24 | 5300984 besnook
besnook's picture

maybe those poor people will have learned that a "right to go after your family" clause should be added to every contract with the west.

Tue, 10/07/2014 - 19:36 | 5301196 Monty Burns
Monty Burns's picture

Nice one. Now there's a thought!

Tue, 10/07/2014 - 18:24 | 5300987 SheepDog-One
SheepDog-One's picture

'The Goldman banksters got scared, gathered their things, and left quickly'....gee if only someone here in the U.S. from da prezdent on down had that much nerve to tell Goldman to fuck off, we'd have some chance of survival from this mess!

Wed, 10/08/2014 - 01:16 | 5302052 COSMOS
COSMOS's picture

Too bad they didnt get stopped on the way to the airport by some extremists and had their heads cut off, sigh.

Tue, 10/07/2014 - 18:30 | 5301007 lasvegaspersona
lasvegaspersona's picture

'If someone is rich then they can be taken advantage of'...or did I get the quote wrong...something to that effect is, I believe, the Goldman statement of ethics...really...they figure once you are big enough to screw you should be smart enough not to get screwed....Goldman is a big bank and I am certain there are some good people there but they sure do not seem to punish questionable ethics...if it makes money.

...and that is a shame as Goldman represents the USA to a lot of these countries.

Wed, 10/08/2014 - 03:55 | 5302193 Ghordius
Ghordius's picture

"...that is a shame as Goldman represents the USA to a lot of these countries"

not only, for many it represents American (or Western) (business) ethics. I know, a bit unfair, and yet there it is

Tue, 10/07/2014 - 18:31 | 5301009 q99x2
q99x2's picture

Obviously an avid reader of the comments from Q99X2.

Take those F'ers to the pyramids homey. You better hurry though because among many others Russia is after them too.

Tue, 10/07/2014 - 18:34 | 5301014 Fuku Ben
Fuku Ben's picture

As I've pointed out before. The errand girls sent by the phoenecian grocery clerks are gutless cowards that cut and run at the first sign of real trouble. The Libya example is the total opposite of America. But why?

I recall watching Bernie Madeoff (with millions) wandering around NYC and several times news crews were trying to interview him

Wasn't their one sheep that was fleeced enough to lose control?

How much flouride do they put in the water there?

Tue, 10/07/2014 - 18:44 | 5301034 JuliaS
JuliaS's picture

Prior to elimination of Gaddafi, Libya enjoyed the highest standard of living in Africa. Today it's a financial vultures' sandbox.

Tue, 10/07/2014 - 20:34 | 5301340 JR
JR's picture

Hydrocarbons are the common denominator of the US/Israeli Empire wars in Ukraine, Iraq, Syria and Libya.

Excerpts from Gaddafi's Libya Was Africa 's Most Prosperous Democracy By Garikai Chengu | 12 January, 2013| Countercurrents.org:

Muammar Gaddafi inherited one of the poorest nations in Africa . However, by the time he was assassinated, Libya was unquestionably Africa 's most prosperous nation. Libya had the highest GDP per capita and life expectancy in Africa and less people lived below the poverty line than in the Netherlands . Libyans did not only enjoy free health care and free education, they also enjoyed free electricity and interest free loans. The price of petrol was around $0.14 per liter and 40 loaves of bread cost just $0.15. Consequently, the UN designated Libya the 53rd highest in the world in human development….

Under Mr. Gaddafi, education was a human right and it was free for all Libyans. If a Libyan was unable to find employment after graduation the State would pay that person the average salary of their profession.

For millions of Americans health care is also increasingly becoming a privilege not a right. A recent study by Harvard Medical School estimates that lack of health insurance causes 44,789 excess deaths annually in America . Under Mr. Gaddafi, health care was a human right and it was free for all Libyans. ..

 When Colonel Gaddafi seized power in 1969, few women went to university. Today more than half of Libya 's university students are women. One of the first laws Mr. Gaddafi passed in 1970 was an equal pay for equal work law, only a few years after a similar law was passed in the U.S. In fact, Libyan working mothers enjoyed a range of benefits including cash bonuses for children, free day care, free health care centres and retirement at 55….

http://www.countercurrents.org/chengu120113.htm

This on a Gross Domestic Product (PPP) Per Capital in 2009 in Libya of $14,396 versus a 2009 PPP in the United States of $45,461 (climbing to $51,248 in 2013).

Wed, 10/08/2014 - 01:18 | 5302053 COSMOS
COSMOS's picture

Too bad Putin pulled out all those potential hydrocarbons in the Black Sea right from under their noses, lol.

Wed, 10/08/2014 - 09:01 | 5302551 marathonman
marathonman's picture

I think Libya's (and Iran's) real sin is that the country's central bank was owned by the government, i.e. not owned by a private cartel of banks.  I think Syria may suffer the same affliction.  America - making the world safe for privately controlled central banking.

Wed, 10/08/2014 - 09:01 | 5302553 marathonman
marathonman's picture

..

Tue, 10/07/2014 - 20:35 | 5301341 Oldwood
Oldwood's picture

Now don't go pissin on our gift of freedom and democracy we brought them....from behind.  Doin it Obama style.

Tue, 10/07/2014 - 18:42 | 5301045 Brokenarrow
Brokenarrow's picture

Im afraid for Lloyds son. Where does he live?

Tue, 10/07/2014 - 18:44 | 5301051 max2205
max2205's picture

You go Libya!  

Tue, 10/07/2014 - 18:46 | 5301052 TheGreatRecovery
TheGreatRecovery's picture

The invasion of Libya and assassination of Qaddafi was just a typical Neoconservative armed robbery.  A ten-bagger.  Now Hillary says, "who cares what happened"?  I bet the people of Libya care.

The west always painted Qaddafi as a madman and enemy of Peace Love and The Cowboy Way, but Qaddafi was the Arab leader who started the oil embargo and taught the other Arabs how to get a fair price for their oil.  Qaddafi had a pair.  Qaddafi was a leader, unlike the families who rule Saudi Arabia, Bahrain, UAE, and Kuwait, whom Qaddafi made rich beyond their wildest dreams, and who lacked the courage to come help Qaddafi in return when the Neoconservatives came for him.

No leaders in the Near East.  Only narcissists.  I bet Mohammed would shun them.

Tue, 10/07/2014 - 19:29 | 5301172 Monty Burns
Monty Burns's picture

Qaddafi was a leader who was brutal towards dissenters.  But that's for the most part the Arab/Islamic way.  Apart from that he did well for his people who lived comfortable and relatively safe lives. Following the Western humanitarian bombing and murder of Qaddafi the country became a dystopian, murderous and impoverished failed state.  So yes Hitlery, the people of Libya care.

By the way, one of the greatest eye-openers for me was the establishment of a Central Bank there even while the civil war raged. It was that urgent.

Tue, 10/07/2014 - 20:50 | 5301390 Wahooo
Wahooo's picture

Indeed. Central Banks are the mechanisms for plundering national treasuries. They are the iltimate blood funnels.

Tue, 10/07/2014 - 23:35 | 5301880 TheGreatRecovery
TheGreatRecovery's picture

Amen.  Tony Blair.  And it reminded me of the way the very first thing Bush/Cheney did after getting elected was start up those private discussions with oil company bigshots, to carve up Iraq.  Long before 911.  And then, surprise, surprise, the "coalition of the willing" was "forced to" do a humanitarian bombing of Iraq and Hussein got assassinated (all legal like, though, with a court).  And, yes, Hussein was brutal, too, but, yes, people seemed to live more comfortably and women seemed to be treated more respectfully under Hussein's rule, brutal though it was.

Tue, 10/07/2014 - 19:42 | 5301212 Loucleve
Loucleve's picture

Mohamet started his career as a caravan robber who took 20% off the top.  How do you think he atrracted so many followers so quickly?  it was through robbery, rape, plunder and conquest. Read your islam - they have no Golden Rule.

He would be proud of GS, although he hated the jews after they spurned his advances.

Tue, 10/07/2014 - 20:49 | 5301383 FeralSerf
FeralSerf's picture

The US government takes MORE than 20% off the top. It is also not a stranger to robbery, rape, plunder and conquest. Read your history.

Tue, 10/07/2014 - 23:45 | 5301863 TheGreatRecovery
TheGreatRecovery's picture

All the tribes robbed each other's caravans.  All of them.  Mohammed does not appear to have been a greedy man.  Apparently, what Mohammed enjoyed was going to the caves and meditating, not throwing lavish parties to show off.  The reason Mohammed attracted followers was that he gave them something they had been wanting for a long time - a prophet from the God the Jews and Christians had gotten prophets from.  Before Mohammed, the Arabs felt they must somehow be unworthy since God had never sent them a prophet.  Until Mohammed, the Arabs had all their old, fighting against each other, gods, like the Greeks and Romans and Vikings.  Or like the Jews before Moses ("thou shalt have no other gods BEFORE me", which always seemed to me to imply that there are other gods).  Also, Mohammed told the Arabs over and over that the only way they could ever become strong like the Jews and Christians was if they worked together.  It seems to me that, for his people, and working with what he had to work with in his culture, Mohammed really had it together.  There are bad things that could be said about Abraham too.  Heck, the Old Testament is chock full of stories about how various Jews acted badly (and some acted nobly).  As for Christians, we need look no further than the Dark Ages, or the way the Spanish and Portuguese treated the Central Americans and South Americans.  (And we could find nobility in the humanitarian way the Americans conducted themselves toward enemies and all parties in WW2.)

Tue, 10/07/2014 - 23:49 | 5301925 TheGreatRecovery
TheGreatRecovery's picture

I understand that "Al' is Arabic for "the", and "Allah" is Arabic for "the God".  So Allah is just like Dios, a name in a different language for Jehovah or God.

Tue, 10/07/2014 - 18:54 | 5301093 Bemused Observer
Bemused Observer's picture

Well, c'mon, the guy was pissed...
I think his response was very appropriate, and perhaps we ought to have more appropriate responses to what these people are doing.
There's no reason anyone has to put up with their bullshit. These 'rules' they play by are not engraved in stone. At some point, it becomes too arrogant, and people start pushing back, and not in "nice" ways.
Go after your family indeed. Don't think things can't get that ugly, they can. Especially in other areas of the world that aren't as civilized as we little hothouse flowers here. Not everyone is so willing to bend over and uncap the lube for one's oppressors. And many of them can get quite nasty.

Tue, 10/07/2014 - 19:04 | 5301120 Ignorance is bliss
Ignorance is bliss's picture

If you think what they did to the Libyan Sovereign Wealth fund was funny, you should see what Goldman is doing with your 401K money. Now that is funny.

Tue, 10/07/2014 - 23:44 | 5301892 TheGreatRecovery
TheGreatRecovery's picture

When people told me they were afraid of Breshnev, I used to say that I was more afraid of Nixon.  They would ask, why?  I would answer, look at the map, Gorbachev's all the way around the other side of the world; Nixon's RIGHT HERE.  And Goldman Sachs is right here.

(Not that I thought Nixon was all bad either.  He did start up the EPA.  And he did end the Vietnam War.)

Tue, 10/07/2014 - 19:12 | 5301136 DipshitMiddleCl...
DipshitMiddleClassWhiteKid's picture

anyone who does business wih these sleeze balls deserves it (to be hoenst)

Tue, 10/07/2014 - 19:32 | 5301185 Monty Burns
Monty Burns's picture

Yes, it never ceases to amaze me that people still listen to the Squid's 'advice' and give them their funds to invest.  Surely even the dumbest moron out there knows that they're nothing more than crooks, and hopelessly compromised crooks at that?

Wed, 10/08/2014 - 06:03 | 5302263 messystateofaffairs
messystateofaffairs's picture

Pay the congress whores to write 401k type laws, pay the "fund managers" to "invest" the loot. Only thing left to do is invest some of the loot in dog food factories to feed the retired goyim victims.

Tue, 10/07/2014 - 19:25 | 5301167 goosee
goosee's picture

there really is no freedom in the US. Your taxed to fuel a part of society, that has become a majority and votes with their food stamps.Ya get the government that backs this as long as they are kept in office. And on the other end you get goosed by the 1 percent.

I'm beginning to like those foreign countries.If the government fails you you get rid of them. Any way you can. Same should be true for the banksters.

 

" go after the family"an idea whose time might have come

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tue, 10/07/2014 - 19:27 | 5301171 artytom
artytom's picture

Good for the Libyan.

Tue, 10/07/2014 - 19:27 | 5301175 stocktivity
stocktivity's picture

Hey Libya....that's what these white, fat, blue-eyed bankers do.

Tue, 10/07/2014 - 20:41 | 5301353 JR
JR's picture

Is that why they call Lloyd "Ol' Blue Eyes"? oh wait...

Tue, 10/07/2014 - 20:42 | 5301358 Wahooo
Wahooo's picture

Hard to believe the Libyans let a bunch of jews run their money.

Tue, 10/07/2014 - 20:43 | 5301359 Wahooo
Wahooo's picture

Hard to believe the Libyans let a bunch of jews run their money.

Tue, 10/07/2014 - 19:37 | 5301204 JR
JR's picture

A key revelation of abuse against Libya now comes to light through a unique journalist whistleblower who was paid to write so-called secret information against Ghaddafi.

Dr. Udo Ulfkotte, a well-known veteran German editor, author and writer has revealed in a new book on how he was paid by a CIA–founded German intelligence agency to write an article accusing Ghaddafi of building a poison gas factory in Libya.

Ulfkotte says the German foreign intelligence, a sister organization of the CIA, came to his office in Frankfort, Germany, and asked him to write the story even though he had no secret information himself about Ghaddafi or Libya. The intelligence agency just wanted him to take the information it gave him and write the article under his name, which he did. It was published in Frankfort and became worldwide within two days.

If he had refused, Ulfkotte was convinced the agency would have taken action against his career. He gives an example of what happens to those who refuse to cooperate when approached by the CIA or one of its sister organizations.

The example was a pilot of the Yellow Angels in Germany, a helicopter service used in traffic accidents. The intelligence agency wanted one of its pilots to stay with the Yellow Angels but secretly to work as a non official cover for them. The pilot say No. So what happened? He lost his job.

A German court upheld the firing saying the pilot’s refusal proved the man could not be trusted.

Dr. Ulfkotte says that he regrets the stories that he has written which were funneled to him in the past from intelligence agencies; “It is wrong…it is not journalism.”

He said he is making these revelations in a book and a speaking tour after 25 years because he has become alarmed that the misinformation journalists are now using against Russia are creating the conditions for a European war. He said that journalists from a number of countries are being used by the CIA and its affiliates for ithese misinformation articles. He specifically mentioned journalists from Germany, Britain and Israel.

Other countries he also mentioned where journalists are taking bribes to be “puppets on the streets for the CIA” are Australia, New Zealand, Jordan and Taiwan.

jefferson32  provided the link to this video today on ZH: “Must see, German journalist tells how he was recruited by the CIA (and how the mass-media propaganda is pushing for world war)”:

http://www.youtube.com/watch?v=yp-Wh77wt1o

Tue, 10/07/2014 - 20:03 | 5301269 New American Re...
New American Revolution's picture

God or Muhammad's work?  Neither, they work for Satan who is alive and well, and quite likely one of their largest defacto shareholders. Believe it or Not.

Tue, 10/07/2014 - 20:06 | 5301275 insanelysane
insanelysane's picture

This all went down in 2008 and in 2011 the UK and US went in there and took out the government.  Well paid campaign donations by Goldman.

Tue, 10/07/2014 - 20:07 | 5301278 nathan1234
nathan1234's picture

Maybe it's time we had some Goldman names behind their frauds. The Demon is not the only one.

His disciples in Goldman need to be known to the public

Tue, 10/07/2014 - 20:49 | 5301385 Dragon HAwk
Dragon HAwk's picture

"get out of my country,"  Now if we could just get Germany to talk Like that ...  :)

Tue, 10/07/2014 - 22:14 | 5301704 eddiebe
eddiebe's picture

I wish the mother$*#^^&*!$$ would get out of my country.

Tue, 10/07/2014 - 22:37 | 5301768 Jack Burton
Jack Burton's picture

"come after their families?" Couldn't happen soon enough, you fuck me, I fuck you only harder. Goldman operates thinking nobody can touch them, Libya, they might just not se it that way.

Tue, 10/07/2014 - 22:57 | 5301822 Peter Pan
Peter Pan's picture

The real story is that a supposed "ëvil"doer left behind a $60 billion sovereign fund whereas the supposed "good" guys in the USA and elsewhere have stripped the cupboard bare and left nothing for either their citizens or future citizens.

Wed, 10/08/2014 - 00:12 | 5301961 Money Squid
Money Squid's picture

what a bunch of pussies. Smile, thank them, let them know how noone could have foreseen such an unfortunate decline in their investments, thank them and on their way out the door let them know you will be investing more in the hope that you could make up the difference. Once the gentlemen near their offices the police pull them over (they received credible information that a large amount of illegal drugs were being transported in their vehicle) and when the drugs are discovered throw them in the basement of the dirtiest prison for a few years until they are shot trying to escape.

Most unfortunate circumstances.

Wed, 10/08/2014 - 00:40 | 5302016 litemine
litemine's picture

Myself, I would rather see a sale on Nail Guns. 

Bankers , have stolen too much.......Laws are protecting them.................Some Laws are wrong.

Wed, 10/08/2014 - 02:07 | 5302098 somebuyinthebeach
somebuyinthebeach's picture

So basically, Goldman tricked Libya into being the counter party on a bunch o shit where Goldman likely got their cash for MBSs which went to near zero in the housing crash. Libya sued Goldman in 2008, threatened the Goldman families, and kicked Goldman out of doing any business with a major world exporter of oil.

 

Which is likely when they switched to Euros since they decided that European banks where less corrupt (ha-ha).  Which is when the defender of the US dollar was deployed to protect the global reserve currency. When did the CIA start gunning for Gaddafi?  Just as he was going to start an African-controlled currency, which Goldman would not get a piece of banking on due to bad blood between them and Gaddafi?

So is someone going to sue the US Gov't for allowing our military to be used as a mercenary force to the highest bidder? Well, they are just that.  The Saudi's and Kuwaiti's paid cash for us to roll in and push Saddam back.  But GWB had such tight relations with the Saudi Royal Family since GHWB's Carlyle group was managing, and taking 2%/year or more?  So GWB re-invaded on the US taxpayer.  So basically the president of the United States was also building his family business, Carlyle, and the vice president of the United States was on leave from his executive position at Halliburton.  And they used their positions to direct the foreign policy of the united states to overthrow seven middle eastern countries for the major benefit of their own families? Iraqi oil is off the market still, so the Saudi's and therefore the Carlyle group is making more money. I bet you Goldman is back in  Libya right now buying assets for pennies on the dollar from whatever corrupt new regime signs a contract that Goldman thinks it can get enforced.  Halliburton will roll in to restore things. GWB is also the last president to get lifetime secret service protection. Do you ever wonder if Goldman wouldn't just hire the KGB or CIA, just by bribing whoever approves secret projects, to just outright threaten the president if he is not on board? Money is just as powerful as oil now.  Is that possible? http://www.bloomberg.com/news/2011-04-25/qaddafi-s-money-man-in-vienna-f... The Libyan Sovereign Wealth Fund manager just happened to be out of the country when it fell.  I guess there was pretty ample warning to get out of dodge though.  And nobody was gunning for him. http://en.wikipedia.org/wiki/Bribery -- "Bribery around the world is estimated at about $1 trillion (£494bn)." Goldman can set you up with an account in the Caymans with $20M in it if you just order your 40 soldiers to fire on the people of a slightly different religion which you hate protesting down the road. TaDa!  Gaddafi is international bad man #1 and the bombers are on the way. Zati was very well connected in that Bloomberg article.  Do you think he bamboozled Gadaffi into buying all this shit in the Sovereign Wealth Fund so that he could have Millions in salary waiting for him when he lands in Europe?  Was he a Goldman plant all along?
Wed, 10/08/2014 - 07:36 | 5302354 talisman
talisman's picture

Meanwhile, USAIPAC/CIA sat there drooling over Gaddafi's enormous cache of weapons which they sorely coveted for use with no traceable accountability and free for the taking for their ongoing war to displace Assad.

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