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Goldman Itching To See Libya Try To Prove That It Sold Worthless Derivatives


Goldman Sachs was going to ask a British judge to throw out the Libyan Investment Authority’s lawsuit against it. But, on second thought, no: Give it your best shot, Libya. Lloyd’s boys are not afraid of you and your self-professed limited financial expertise.

The US investment bank has withdrawn its request for a summary judgment in the dispute lodged at the High Court, it confirmed on Tuesday. A summary judgment is when a matter is determined before trial, and Goldman’s withdrawal of its application removes one hurdle that the LIA would have had to overcome before getting a full hearing of the evidence in court.

Goldman withdraws attempt to stop $1bn Libya fund dispute [FT]


By ACEI Cheung (4Cheungs) from Flickr (Flickr) [CC BY-SA 2.0], via Wikimedia Commons

At Least One Goldman Exec Knew That The Milk It Squeezed Out Of Libya Would Curdle

His verb choice is almost as damning as his email history.


Libya To Goldman Sachs: We're Naive, But You're Mean

Camels and hookers and billion dollar trading losses, oh my.