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Old 02-25-2011, 08:13 AM
 
2,541 posts, read 2,738,618 times
Reputation: 492

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Goldman Sachs collected $2.9 billion from the American International Group as payout on a speculative trade it placed for the benefit of its own account, receiving the bulk of those funds after AIG received an enormous taxpayer rescue, according to the final report of an investigative panel appointed by Congress.

The fact that a significant slice of the proceeds secured by Goldman through the AIG bailout landed in its own account--as opposed to those of its clients or business partners-- has not been previously disclosed. These details about the workings of the controversial AIG bailout, which eventually swelled to $182 billion, are among the more eye-catching revelations in the report to be released Thursday by the bipartisan Financial Crisis Inquiry Commission.

The details underscore the degree to which Goldman--the most profitable securities firm in Wall Street history--benefited directly from the massive emergency bailout of the nation's financial system, a deal crafted on the watch of then-Treasury Secretary Henry Paulson, who had previously headed the bank.
BOMBSHELL REPORT: Goldman Sachs Got Billions From Taxpayers Thru AIG For Its OWN Account, Crisis Panel Finds; Contradicting SWORN Testimony From*Execs - Home - The Daily Bail

 
Old 02-25-2011, 08:22 AM
 
Location: Wisconsin
37,971 posts, read 22,151,621 times
Reputation: 13801
I like how theses crooks destroy our 401ks, and then we bail them out, and they think we are all square with them now, because they paid back the money we bailed them out with. Sort of like paying the dry cleaning costs to get your blood out of the clothes for the mugger that just beat and robbed you.
 
Old 02-25-2011, 02:25 PM
 
2,541 posts, read 2,738,618 times
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Quote:
Originally Posted by Wapasha View Post
I like how theses crooks destroy our 401ks, and then we bail them out, and they think we are all square with them now, because they paid back the money we bailed them out with. Sort of like paying the dry cleaning costs to get your blood out of the clothes for the mugger that just beat and robbed you.
And they are always crying about the 'Welfare' crooks - well, there are none bigger than they.
 
Old 02-25-2011, 02:32 PM
 
22,768 posts, read 30,733,597 times
Reputation: 14745
at this point i do not care about the money, i care about criminal prosecutions to the maximum extent of the law.

i am not holding my breath, though. congress does not seem to care.
 
Old 02-25-2011, 02:37 PM
 
10,854 posts, read 9,301,747 times
Reputation: 3122
Quote:
Originally Posted by Wapasha View Post
I like how theses crooks destroy our 401ks, and then we bail them out, and they think we are all square with them now, because they paid back the money we bailed them out with. Sort of like paying the dry cleaning costs to get your blood out of the clothes for the mugger that just beat and robbed you.
The stock market has been about 40% since February of 2009. If anybody investment portfolio has been destroyed you really have nobody to blame but yourself.
 
Old 02-25-2011, 02:39 PM
 
29,981 posts, read 42,934,013 times
Reputation: 12828
And the Democrat controlled Congress made certain the bailouts happened!

Look at how many of Obama advisors and cabinet members/czars have Goldman Sachs ties. Think there wasn't political payback there?
 
Old 02-25-2011, 02:40 PM
 
29,981 posts, read 42,934,013 times
Reputation: 12828
Quote:
Originally Posted by le roi View Post
at this point i do not care about the money, i care about criminal prosecutions to the maximum extent of the law.

i am not holding my breath, though. congress does not seem to care.
Correction: Democrats are blocking the investigations into this mess that Darrell Issa is trying to conduct.
 
Old 02-25-2011, 02:51 PM
 
Location: Honolulu, HI
5,638 posts, read 6,516,173 times
Reputation: 7220
Quote:
Originally Posted by lifelongMOgal View Post
And the Democrat controlled Congress made certain the bailouts happened!

Look at how many of Obama advisors and cabinet members/czars have Goldman Sachs ties. Think there wasn't political payback there?
Very true!!! I'm a Leftist and I realize what has had happened and what continues to happen. Dems/Libs can blame it all on the Repubs/Cons. The fact is, the Dems/Libs have just as much of a hand in all of the finance/wall st. BS corruption as the Repubs/Cons do. While many past Presidents have surrounded themselves with wall st. folks, Obama has set the record. Most of his circle is made up of wall st., especially GS folks.
 
Old 02-25-2011, 03:14 PM
 
Location: OCEAN BREEZES AND VIEWS SAN CLEMENTE
19,893 posts, read 18,444,477 times
Reputation: 6465
Quote:
Originally Posted by lifelongMOgal View Post
Correction: Democrats are blocking the investigations into this mess that Darrell Issa is trying to conduct.
Once again, how true what you have said. Most of us can read the writing on the wall, we know what is happening, but how can we stop it!
 
Old 02-27-2011, 04:58 AM
 
22,768 posts, read 30,733,597 times
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Quote:
Originally Posted by lifelongMOgal View Post
Correction: Democrats are blocking the investigations into this mess that Darrell Issa is trying to conduct.
so i admit i don't know much about Issa.

but doing some brief reading, i cannot find a news source to corroborate your claims that Issa is attempting to investigate Goldman Sachs for criminal corruption, and is being blocked by Democrats. If that is the case, i'd appreciate it if you would provide a link.

the information i found said that Issa is indeed conducting investigations, and that they are broad in scale. he's going on a deregulatory witch-hunt, which is fine in theory, but I am detecting a lot of partisan, "let's hunt down the Democrats" sort of mentality.
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