"NEW YORK (CNNMoney) -- Goldman Sachs managed $1.3 billion worth of trades in currencies and other investments for the Libyan Investment Authority in 2008, according to a report published Tuesday.
After those investments lost nearly all of their value in the market turmoil of 2009, Goldman offered Libya the chance to become one of its biggest stakeholders, according to the Wall Street Journal. The discussions eventually fell apart, and the LIA has since been sanctioned by the international community, with the United States and other governments seizing most of its assets. Goldman Sachs declined to comment on the report. But a source familiar with the matter confirmed that Goldman did manage money for Libya, and that the investments performed poorly. A call to the phone number listed for the LIA's main office in Tripoli was not answered and an e-mail requesting comment was not returned..." http://money.cnn.com/2011/05/31/news/companies/goldman_libya/index.htm
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