Even despotic leaders, it turns out, can make sound investment decisions. Libyan leader Moamar Gadhafi turned down a chance to investment with Bernie Madoff and accused ponzi schemer Allen Stanford, according to a new diplomatic cable released by WikiLeaks. (The U.K.'s Telegraph has the full cable, dated January 28, 2010.) The head of the Libyan sovereign wealth fund, Mohamed Layas, claimed to control $32 billion in liquid assents, most of which was deposited at U.S. banks. Layas, according to the cable, was miffed at Libyan funds were "mismanaged" by Lehman Brothers, the failed investment bank.
http://www.huffingtonpost.com/2011/02/23/wikileaks-gadhafi-turned-_n_827176.html
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