Investing in currency speculation and stock options of some already risky companies, Goldman Sachs apparently lost almost all of the funds entrusted to it by Libya’s Sovereign Fund, (”Libyan Investment Authority” or LIA). That is the conclusion of a Wall Street Journal journalistic investigation and report. Goldman apparently is denying the story, but to many details for this story to be a total fantasy. The story gets interesting with pissed off Gadaffi cronies and threats of physical retribution. However, the apparent offer of Goldman to try to make the Libyan’s whole involved them offering Tripoli a big chunk in Goldman Sachs itself through a combination of preferred shares and derivatives of various forms. Gadaffi almost became one of Goldman’s biggest shareholders.(Don't know if any of this has anything to do with Goldman's big bets on higher oil?) The Goldman Sachs offer to make the LIA whole was never consummated. Unlikely it would be as long as Gadaffi runs the show in Tripoli. However, what happens if and when the opposition takes power. The money lost by Goldman is Libyan money. The US and allied governments have already frozen $30 billion presumably for safekeeping for the next and new Libyan government. Undoubtedly that new Libyan leadership will have to pursue its fiduciary responsibility on behalf of the Libyan state and people and press Goldman for some form of compensation, at least as favorable as presumably offered to Gadaffi’s LIA managers. Places Goldman in perhaps an odd situation. As long as Gadaffi holds on, they don’t have to pay. And by the way, who is managing the other $30 billion or so while it remains frozen. Such large investments rarely are passive and require active management. Related Reports at “International Financial Crisis” Channel - diplomaticallyincorrect.org/c/international-financial-crisis By Ambassador Muhamed Sacirbey Facebook Become Fan at “Bosnia TV” and “Diplomatically Incorrect” Twitter – Follow us at DiplomaticallyX