Friday, May 27, 2011

Risky Business 

What happens to your reputation when it becomes known that you are helping a dictator invest  billions that he has stolen from his country?  A group of banks are about to find out.  A document has come to light that shows they were instrumental in helping Col. Qaddafi invest funds from Libya.    They have a defense in that Qaddafi wasn't on a blacklist until recently.   Association with Qaddafi is an issue now, and a potential black mark on their reputations.  Some of the banks like Goldman Sachs are already under public pressure for their actions in the economic meltdown.  This doesn't help.


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