Prostitute Goldman Sachs Banker Procured For Libyan Client Drove A Hard Bargain

When this is all over she could get a job on Goldman's M&A team.
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Earlier this week, the highly anticipated trial of Goldman Sachs vs the Libyan Investment Authority kicked off in London. According to the LIA, Goldman manipulated its naivete to the tune of $1.2 billion, making a $275 million profit in the process.* The way the Libyans tell it, the groundwork for the exploitation was laid when a former Goldman banker "embedded himself within the LIA early in the relationship and became exceptionally close to the fund," which meant springing for "expensive entertainment and stylish hotels," a holiday to Morocco, a "highly coveted" Goldman internship for the brother of a "key decision maker at the LIA," and, of course, prostitutes. Today the court heard about said prostitutes and the process by which the embed (Youssef Kabbaj) went about arranging them. Based on the following released text message between Kabbaj and one such woman of the night, it was an exercise in pride-swallowing and high-level negotiating.


Youssef Kabbaj: Hi darling, do you remeber me? Yousef fom london. Just arrived in dubai. Available tonight, with a friend?

Michella: I dont remember u sorry. But where r u staying?

YK: Ritz carlton. We met at emirates tower then mirage. Moroccan restaurant. Moroccan.

M: Yes i remember u.want to meet 2n؛te?

YK: Cool. Michella from media city:))) with pleasure. Where? I am with a friend. We're on our way to the hotel from the airport. Where do you want to meet? Hotel? Somewhere else?

M: I can come to your hotel you will give me and my friend 1500

YK: 200usd each. For taxi.

M: No 300

YK: Come and we will have a drink and discuss. I missed you

M: I can not do that

YK: Where are you now?

M: I am out but im not coming until there for 200

YK: Ok. Come. You have a deal.

M: 300 ok? And i bring my friend too?

YK: Yes. Your friend has to be as good looking at you.

M: Ok.

Say what you will about Kabbaj but it's got a sting a bit when a hooker tells you she doesn't remember your...sparkling personality. This guy took one for the team.

These are the texts a Goldman Sachs banker allegedly sent to a prostitute he was trying to get for a client [BI]

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

*According to Goldman Sachs, 1. How dare you and 2. It made off with "no more than $130 million."


Goldman Sachs Can Fix This

A week ago today, a man named Greg Smith resigned from Goldman Sachs. As a sort of exit interview, Smith explained his reasons for departing the firm in a New York Times Op-Ed entitled "Why I Am Leaving Goldman Sachs." The equity derivatives VP wrote that Goldman had "veered so far from the place I joined right out of college that I can no longer in good conscience say I identify with what it stands for." Smith went on to note that whereas the Goldman of today is "just about making money," the Goldman he knew as a young pup "revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients." It was a culture that made him "love working for the firm" and its absence had stripped him of "pride and belief" he once held in the place. While claiming that Goldman Sachs has become virtually unrecognizable from the institution founded by Marcus (Goldman) and Samuel (Sachs), which put clients ahead of its own interests, is hardly a new argument, there was something about Smith's words that gave readers a moment's pause. He was so deeply distraught over the differences between the Goldman of 2012 and the Goldman of 2000 (when he was hired) that suggested...more. That he'd seen things. Things that had made an imprint on his soul. Things that he couldn't forget. Things that he held up in his heart for how Goldman should be and things that made it all the more difficult to ignore when it failed to live up to that ideal. Things like this: