Tuesday, May 30, 2017

Goldman Sachs Under Fire For Buying Venezuelan Bonds

Reuters: Goldman confirms buying Venezuela bonds after opposition cries foul

Goldman Sachs Group Inc (GS.N) has confirmed it bought Venezuelan bonds after being excoriated by the country's opposition for financing the embattled government of President Nicolas Maduro, who is facing sustained protests.

The president of the opposition-led Congress accused the bank of financing "dictatorship" after the Wall Street Journal reported Goldman had bought $2.8 billion in bonds issued by state oil company PDVSA at a steep discount.

"We bought these bonds, which were issued in 2014, on the secondary market from a broker and did not interact with the Venezuelan government," Goldman wrote in a statement late on Monday.

Read more ....

WNU editor: Talk about dals .... 30 cents on the dollar backed by the country's oil assets .... wow .... no one who has money would ignore that. Not surprising .... the opposition to this deal is massive. But talk about digging your grave deeper .... Goldman Sachs Defends Venezuela Bond Deal Vilified by Opposition (Bloomberg). If I was Goldman Sachs .... I would be more worried about this .... Venezuelan opposition threatens country won't pay Goldman Sachs' $2.8 billion bond deal (CNBC).

More News On Goldman Sachs Under Fire For Buying Venezuelan Bonds

Goldman under fire for buying Venezuela “hunger bonds” -- Washington Post/AP
Goldman confirms buying Venezuela bonds after opposition cries foul -- Reuters
Goldman Sachs condemned for buoying Venezuela with $2.8bn bond purchase -- The Guardian
Venezuela is staying on top of its debts, even with its people going hungry -- CNBC
Venezuelans are outraged at Goldman Sachs -- CNN
Goldman Sachs Criticized for Venezuelan Bond Deal -- VOA
Venezuelans call for protest in New York after Goldman Sachs offers “lifeline” to Maduro -- Miami Herald
Goldman Sachs Accused of Financing Venezuela's 'Dictatorial Regime' -- Fortune
Congratulations To Venezuela - Goldman Sachs Bails Out The Country By Buying Bonds -- Forbes
Is Goldman Sachs Playing With Fire In Venezuela? -- Tsvetana Paraskova, Oil Price
Goldman Sachs should be ashamed for throwing a lifeline to Venezuelan regime -- Andres Oppenheimer, Miami Herald


Carl said...

They probably intend to sell the bonds to some unsuspecting schmucks, then bet on a price collapse.

James said...

There are some new developments in the Argentinian Nisman case.

Jay Farquharson said...

Goldman Sach's has a long history of buying the Government bonds of countries undergoing economic collapse at a huge discount, and hanging on to them,

They then use the Bonds and the US Court System, to leverage full dollar payouts upfront, from any IMF or Western attempt to provide financial aid down the road.

It's a form of Vulture Capitalism that has earned them trillions over the years.

War News Updates Editor said...

Thank you James. That's news to me. Will check it out.

Aizino Smith said...

21 years later.

Not surprising considering the Kirshners. They had not interest in the truth.

Aizino Smith said...

Correction 'no' not "not"