Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Naked Shorting-Hedge Fund & Market Maker manipulation? -- Ignore unavailable to you. Want to Upgrade?

To: basserdan who wrote (4859)	5/31/2011 8:21:20 AM
From: rrufff	1 Recommendation Read Replies (2) \| Respond to of 5034

From today's news via REUTERS, sort of "off-topic," but more evidence that our markets are controlled with all types of shenanigans that keep the big boys from losing, at the expense of the little players. Goldman traded $1.3 billion in Libyan funds: report Tue May 31, 1:45 am ET .(Reuters) – Goldman Sachs invested more than $1.3 billion from Libya's sovereign-wealth fund in currency bets and other trades in 2008 and the investment lost more than 98 percent of its value, the Wall Street Journal reported, citing internal Goldman documents. When the fund, controlled by Col. Muammar Gaddafi, made huge losses Goldman offered Libya the chance to become one of its biggest shareholders, the Journal said, citing people familiar with the matter. Goldman Sachs was not available for comment, outside of normal U.S. business hours. Among the different proposals put forward by Goldman Sachs to recoup the losses was one in which Libya would get $5 billion in preferred Goldman shares in return for investing $3.7 billion into the securities firm, the paper added. The documents also show that company Chief Executive Lloyd Blankfein, its finance chief David Viniar and top executive Michael Sherwood were involved in discussions in this regard, the Journal reported. The Libyan fund had apparently paid $1.3 billion for options on a basket of currencies and on six stocks - Citigroup Inc (C.N), Italian bank UniCredit SpA (CRDI.MI), Spanish bank Banco Santander, German insurance giant Allianz (ALVG.DE), French energy company Électricité de France (EDF.PA) and Italian energy company Eni SpA (ENI.MI), the paper said. (Reporting by Rachel Chitra in Bangalore; Editing by David Cowell)