March 16, 2009

Goldman Sachs' CEO, knowing it was gonna blow, seized control of the US Treasury, and then had $12.9 billion transferred via AIG to its account. Wow.

Damn, these grifters were good.

Real good.

In 2004 Hank had the Goldman-controlled SEC up Goldman's max leverage ratio to 40 to 1. He then went out and enriched himself and his Goldman/Bear/Lehman/Merrill/Morgan club, while causing the greatest fraud-fueled financial bubble of all time, knowing that one day it would all cave in. After they enriched themselves of course.

So then Hank and the club, having taken control of the US Presidency, had Hank installed to head the Treasury, seizing complete and uncheked control over the nation's finances and biggest blank check of all time. And when it blew up, as they knew it would, they had the US taxpayer pick up the tab.

Laughing all the way to the bank.

Damn, these grifters were good.

Real good.

And the people sat around with their thumbs up their now-impoverished asses, did nothing about it, and remained completely and totally clueless about the maneuverings of Hank and his little club.

AIG says emergency aid used to pay other banks

Some of the biggest recipients of the AIG money were Goldman Sachs at $12.9 billion, and three European banks — France's Societe Generale at $11.9 billion, Germany's Deutsche Bank at $11.8 billion, and Britain's Barclays PLC at $8.5 billion. Merrill Lynch, which also is undergoing federal scrutiny of its bonus plans, received $6.8 billion as of Dec. 31.

The money went to banks to cover their losses on complex mortgage investments, as well as for collateral needed for other transactions.

Other banks receiving between $1 billion and $3 billion from AIG's securities lending unit include Citigroup Inc., Switzerland's UBS AG and Morgan Stanley.


k.w. - Southern Ca. said...

One crook after another crook - business as usual ... until the roof collapses.

Shanty towns coming to a town
near you:

Mitesh Damania said...

Who said money didn't go on trees? Show him this blog entry.

One for you one hundred for me. Two for you a thousand for me. Look there! *runs away*

Mitesh Damania said...

The Palestine Telegraph:

Look! He just pulled a "Paulson" said...

You would have to be a stooge to not know old Hank "Pulled a Paulson" on the American public just before leaving town. This crime will finally allow brother Ponzi to rest because the king of fraud will have a new name.

Anonymous said...

Aside from not managing their own money, which, if done correctly is about as much as the average person can handle, how can one expect citizens to have kept up with what was going on at higher levels? Let's be real here.We are collectively responsible for failing to keep our own spending in line.

But the sophisticated (might as well call it esoteric)machinations used to leverage, divide, parse,
and spread the virus of modern investment techniques was beyond even those supposedly in charge: I believe Bernanke himself said he didn't understand some of the activities. To expect average observors to grasp anything except the sense of mania is unrealistic.

But to excuse those who designed the math formulas informing these financial instruments and thinking without considering the normal vagaries of life is wrong. How can any human being past the age of 25 or 30, believe, based on any discipline known to man: math, economics, philosophy, accounting,

As an experienced woman of retirement age, I must go with the
Lemming-Testosterone theory: If I can still get it up, and all my homies are in on it too, it can't go wrong. And for the women who went along with buying/refinancing their home, they too were responding: I married/am with one of the big dogs.We've got/deserve it all. Collectively, they were giving approval to the guys at the top: these guys have made it possible; they must know what they are doing.

I think you had to be at the lower third of the heap and a bit humble to ask questions: I don't know why that isn't doable for me? it's always been hard; I've had lots of things go wrong in my life, how can life be going so right for so many people, when I see them doing things I can't afford to do, and know from bitter experience I no longer want to do. If these ideas they have are spread everywhere and things go wrong, even though they say it can't , won't everyone have it go wrong then? I remember asking that question when I first heard of derivatives a couple of decades ago; it seemed to have the potential of a virus. But what did I know? I had trouble keeping food on the table; I just liked to read.
I had to grow a garden to keep us healthy...Ooops...maybe I'll be in vogue soon.

They were clever. Now they're just bold as heck. What will it take to get their frigging hands out of the cookie jar? Really?

Grandma PKK

GS is the mark of the beast said...

Goldman Sachs is the College of Financial Fornication - a breeding ground for corrupt practices and a cancerous growth on the backs of every taxpayer (past, present, and FUTURE) that must be removed through intensive legal investigation and unmerciful punishment/annihilation.

Jayman01844 said...

Some criminals are good and some are lucky. and some are both. While the american sheeple and media are outraged over the bonuses they are ignoring the counterparty payments from AIG to Goldman

Smooth criminal do you agree michael jackson???

debt junkie said...

I'm thinking that the upgrades and downgrades are a major source of the "shananegans" that Cramer, Stewert were discussing.

I just had a stock I was waiting to buy get upgraded by Collins Stewart (whoever the fuck that is). It popped. What are the chances those in the know didn't load up on it before the announcement?

Especially with the SEC completely MIA (and when they are In Action they're incompetant), you know this must be going on constantly.

Here you have UBS and GS upgrading and downgrading stocks. They can't even run their own companies without monthly free cash in the Billions, and they're passing judgement and influencing the fortunes of OTHER companies?

I think it's into schemes like this that the vast fortunes stemming from productivity increases of the last 12 years are simply no where to be found. They're not in paychecks. They're not in higher stock prices. They're gone. A classic Who Done It from Agatha F*cking Christe.

And Bukko's puppet Mitesh is still here spouting nonsense. Bukko the guy who so hates the fact that he was born white of an evil ancestory. So wishes he were a minority so he could join in the cry of victimhood. Such a dimented soul that he creates a minority alternate ego so he can live a virtual existance as a victim and a race hustler. So devoid of origional thought of that he critices others for occasional spelling errors. Simply a putrid individual.

Here's some interesting thoughts regarding race in America. It shines some light on how this victimhood thing got started.

Shelbe Steele is always good. A great thinker.

Miss Goldbug said...

What a bunch of crooks.

All I can say is buy gold.

Anonymous said...

And with Geithner running the show it'll be more of the same. Geithner was Goldman Sachs' shoe shine boy at the Fed.

Anonymous said...

Goldman 'alumni' have CONverted our government into an inverted porcupine -- the pricks are now insiders.

Anonymous said...

what the hell did everyone think AIG was doing with 160 Billion??????

Just paying bonuses with it? putting it into CDs to earn 1.5% interest?

AIG is an insurance company. They insured debt. that debt is being defaulted on so therefore they must pay out on the insurance policies.

our leaders knew this, they are just claiming ignorance to minimize the impact to their re-election efforts.

This is what the emergency meeting with bernanke, paulson and congress was about last year. We the tax payers are making good on everyone's debt.

December 2008

Anonymous said...

And with Geithner running the show it'll be more of the same. Geithner was Goldman Sachs' shoe shine boy at the Fed.

Not just "turbotax" Geithner. it is the whole lot of them, BO, Peloser, Harry, Frank, bernanke.

December 2008

Anonymous said...

People need to start holding BO accountable.

first it was "give the guy a break, it hasn't even been 2 months"

next it will be "give the guy a break, it hasn't even been 3 months yet"

followed by "give the guy a break, it hasn't even been 6 months yet"

wake up people, 2 months is a freaking long amount of time.

3 months is an eternity.

December 2008

Anonymous said...

I told you what Paulsons game was
when it was going on . The AIG Bailout was chosen to benefit Goldman Saches by Hank Paulson .

To Witness Congress and the Senate
giving that fox in the henhouse
Paulson the blank checks that they did with immunity was hard for me to take . Was it any surprise that
the money didn't buy up toxic assets as proposed and went directly to the Chosen .

So much of Paulsons actions were for the purpose of keeping himself out of jail in the future no doubt ,or at least not needing to give back his ill-gotten gains during the boom-times . You should never have a Treasury Sec. that has a conflict of interest to begin with .

Isn't it interesting how Hank Paulson always pushed the concept of bailing out first and than investigations later . Well,if you bail something out ,than you don't have to deal with the wrong-doings
because they are hidden in the bail-outs .

If you bail out the Wall Street Investment firms and unregulation
Casino bet makers ,than they do not get sued by their investors .
I have said it from day one ,the Bail outs are the biggest OBSTRUCTION OF JUSTICE cases in history ,yet Paulson would like you to belive that it was a emergency regarding the need for money for the credit markets .

We could of solved the entire matter much more efficently and in the process law and order would of been perserved to some degree . A major price will be paid for giving power and blank checks to Hank Paulson .

Anonymous said...

I am in the understandign that AIG was the insurer to those Westrn Euro banks who gave housing bubble loans to Eastern Europe.

Eastrn Euro's bubble popped and are stiffing Societe Generale, Germany's Deutsche Bank, and Britain's Barclays.

The US tax payer shelled out to bail out AIG who got f-ed by Societe et all, who got f-ed by ex-Soviet jingle mailers.

Get it?

It's a big mess.

gutless and lazy said...

You mean, in other words, business as usual in the good ol' USA.

Meet the new boss. Same as the old boss.

USA has always been business corrupt. Probably always will be.

Everyone, chant after me!

(What a scam)

Anonymous said...

It's worse than that.

The "Chosen" banks were bailed out because they are the owners of the Federal Reserve, a private company.

See "The Fix is In for the Owners of the Fed".

Mitesh Damania said...

And Bukko's puppet Mitesh is still here spouting nonsense.

Hey Bukko, did you know I was one of your minions?

patrat said...

Anonymous said "AIG is an insurance company. They insured debt. that debt is being defaulted on so therefore they must pay out on the insurance policies."
The problem with this particular type of insurance was that it was totally unregulated and it was off the books. Now how can something of this magnitude all have been done off the books? I think those on the "inside" of course knew about it and made a lot of money with it. It's just that annoying name thing again - "we won't call it insurance, and that way we won't have to play by the rules." (They called it Credit default Swaps.)

Anonymous said...

Obama to fight AIG bonuses(!!!)

Couldn't breathe the bullshit was so heavy in that one.

"...they are the owners of the Federal Reserve..."

We should drop "the" and simply say Federal Reserve. Read it that way now, and see if you don't agree.

"...3 months is an eternity..."

What is it; worried that somehow he'll start doing better?


Anonymous said...

It would of been cheaper for the
Tresury to just give the regulated Banks the money that AIG defaulted on after they went through BK and had to sell out everything to pay their debts .

I am assuming that AIG insured more than 160 billion in credit default swaps .

Its not as if the viable parts of that orgination could not of been sold off .