How Much Did Goldman Sachs Make For Losing Muammar Gaddafi $1.2 Billion?

Author:
Updated:
Original:

The bank’s about to ‘fess up to its profits on the “worthless” (or not so worthless?) derivatives it sold to Libya’s former “Brotherly Leader.”

Goldman will disclose its margin, profit and loss from the day the trades were booked as well as a month later. It will also disclose the reserves it set aside for each trade, the parties said during a case-management hearing at London’s High Court….

The authority contends that a standard margin for trades like the ones in its suit would be 5 percent, compared with the 20 percent to 40 percent charged by Goldman.

Goldman to Disclose Profit It Made on Libyan Trades [NYT]

Related