How Goldmans cost Gaddafi a $1.3bn fortune

Quote from AK100:

How about like this -

Account A buys X amount of Y at 10am

Account B sells X amount of Y at 10am

At 5pm one either account A will make or lose and vice-versa for account B.

Profitable trades go into Goldman's house account, losing trades go to the Colonel.

It would be slightly more sophisticated than that, but that's the basis. Plus, throw in some 'structured products' and that's even easier as guess who makes the markets? Then you don't even need 2 accounts as you make the Libyan fund buy something that's worth say $100 for $120 - and all off Exchange :)

PS. Anyone else ever wondered why Colonel Gaddafi is still just a Colonel? Normally dictators are so vain I would have thought he'd have promoted himself to a 3* General at least.
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Yup

They can't steal your money or can they?They didn't engineer the internet bubble to rob your pension funds with fraudulent ipos.They didn't lumber AIG to the taxpayers for their own benefit.They were not charged with fraud either by the SEC.
 
One thing that did occur to me.. if an investment bank or investment banks together... were storing any Libyan foreign wealth - bonds, gold, etc.. they could have created a forged document enabling them to trade in whatever instrument and used the stuff they held as collateral and then proceeded to lose all the money.... its a kind of front running the US military ...
 
can you imagine the Goldman representatives who flew to tripoli after GS trashed the colonel's account?

Would any non CIA officer have gone there?
I just can not imagine being smart enough to be a top guy or gal at GS and dumb enough to fly to tripoli after blowing up the guy's account. Its so far fetched I do not believe the story is accurate.
 
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