Reply #47: Gaddafi Invested Heavily in Wall Street and U.S. Bonds

[xchrom]

http://www.allgov.com/US_and_the_World/ViewNews/Gaddafi_Invested_Heavily_in_Wall_Street_and_US_Bonds_110527

Once the United States removed Libya in 2006 from its list of states sponsoring terrorism, American banks and investment houses jumped at the chance to handle some of the country’s lucrative oil revenue.

An internal document produced by the Libyan Investment Authority and leaked to the media detailed $53.3 billion in assets around the world as of June 30, 2010. Goldman Sachs has held $182 million in Libyan assets and JPMorgan Chase 171 million. The U.S. hedge fund Och-Ziff received $329 million to take care of.

More than $290 million of Libyan state money was on deposit in various HSBC accounts and another $275 million was in an HSBC hedge fund. The Royal Bank of Scotland has managed $110 million in private equity funds for the regime of Muammar Gaddafi, and the French bank Société General has handled $1.8 billion in three investment funds.

Gaddafi’s government also owned major holdings in such American companies as General Electric ($217 million), Pfizer ($143 million), AT&T ($135 million), Occidental Petroleum $80 million), Caterpillar ($34 million), Halliburton ($34 million), ExxonMobil ($24 million), United Technologies ($20 million), Citigroup ($20 million) and Honeywell ($13.5 million).