G Sachs Financed HRC's SIL to Make Bullish Greek Bets After It Structured Unseemly Greek Debt Deals
Full title:
Goldman Sachs Financed Hillary Clintons Son-in-Law to Make Bullish Greek Bets After It Structured Unseemly Greek Debt Deals that Hobbled that Country
http://wallstreetonparade.com/2016/05/goldman-sachs-financed-hillary-clintons-son-in-law-to-make-bullish-greek-bets-after-it-structured-unseemly-greek-debt-deals-that-hobbled-that-country/
The fund with the steep losses is part of a larger hedge fund firm run by Mezvinsky and two former colleagues at Goldman Sachs, Bennett Grau and Mark Mallon. The idea that a hedge fund should wait until it had only 10 percent of its clients assets remaining before shutting down is causing angst in billionaire circles, as are many other details surrounding this hedge fund. According to a 2015 article in the Wall Street Journal, the same fund had already lost 48 percent in 2014 raising the question as to why it wasnt shuttered then, when clients could have gotten a sizeable amount of their principal returned.
...
According to the account in the New York Times, the Eaglevale Hellenic Opportunity Fund imploded as a result of bullish bets on Greek bank stocks and Greek government debt. Thats raising even more eyebrows in investment circles since it was Goldman Sachs who secretly sold a complex and convoluted derivative deal to Greece in 2001 that hid the true state of its debt, then reworked the deal multiple times until Greece ended up owing Goldman a stunning 5.1 billion euros, almost twice Greeces original obligation, thus making future bullish bets on Greece highly doubtful. Along the way, Goldman Sachs learned more about Greek debt than just about any player on the planet.
...
There is one last thing to remember about hedge fund losses. For every crushing trade, there is someone on the other side of that trade making a killing. As the public learned well from Goldman Sachs and John Paulson secretly creating a subprime debt investment designed to fail, while Goldman peddled it to their own clients as a good investment and Paulson shorted it to make a profit of $1 billion (the notorious 2007 Abacus deal), until we know whom the beneficiaries of this hedge funds losses were, were in the precise place that Goldman Sachs wants to keep us: in the dark.
SoCalDemGrrl
(839 posts)Not only has HRC accepted fees for speeches to Goldman Sachs - now we get info that
Chelsea's husband operated a hedge fund that Goldman backed.
Seems shady at best... hope this isnt as it appears or it may be that the presumptive Dem nominee is only nominally better than Trump. Jeez is this what the country has to offer us in 2016???
Scary stuff.
laserhaas
(7,805 posts)Midnight Writer
(21,798 posts)How could she have allowed her son-in-law to operate a hedge fund? And why would she allow Goldman Sachs to invest in his business? What was she thinking?
Another example of HRC's poor judgement.
bahrbearian
(13,466 posts)They don't care how they get it.