Goldman Sachs loses clients’ money over failing investment in Venezuelan ‘hunger bonds’

Last Thursday, Venezuela announced it would seek to restructure all its foreign bonds. This sent prices down to 25 cents on the dollar, which means Goldman has lost at least $54 million. “The opposition has already said they won’t honor that bond, so you’re taking a big risk trading those,” Russ Dallen of Caracas Capital told the Financial Times. More…