Wednesday, May 31, 2017

Venezuela furious at Goldman Sachs for making ‘a quick buck’ off its suffering people

The leader of Venezuela’s National Assembly has said the country might refuse to repay $2.8 billion for bonds that Goldman Sachs recently bought from the country’s central bank.

“It is apparent Goldman Sachs decided to make a quick buck off the suffering of the Venezuelan people,” Julio Borges, the leader of the opposition-controlled Congress, said in a letter to Goldman CEO Lloyd Blankfein.

“Given the irregular nature of this transaction and the absurd financial terms involved that are to the detriment of Venezuela and its people, the National Assembly will soon launch an investigation into the matter. I also intend to recommend to any future democratic government of Venezuela not to recognize or pay on these bonds,” Borges wrote ....