Read the article dated 12/9/09 by Matt Taibbi in Rolling Stone — all that “hope and change” preached by Obama was a bald faced lie– the fact is he has the most pro-wall street administration in U.S. History. Taibbi does a great job filling in the details.
Can’t help but think of a recent political cartoon showing a sinking ship– Geithner, Bernanke and Obama are on top with “Wall Street” pronouncing “The Recession’s Over!” while the ship’s lower decks–representing the middle and lower classes– are still underwater and drowning.
As much as you would like to think to save our tax money and let the all fail, you have to remember all these institutions were intertwined in one way or another. Systemic Risk. Back then I was yelling the same thing…let them all go down. I didn’t care.
But now if you understand how this was all tied together, you would have wanted them saved. Or we would be trading cows and chickens as curency.
ineresting too how hank paulsen kept his banker friends and former co-workers afloat with tax money bail out. too bad our politicians didn’t let them fail too – i always thought investors ran the risk of losing money, except on Wall Street. i sure could use a bail out about now…..!
What happened as Bush left and Obama came in, is nothing short of the biggest conspiracy that has ever happened. The DOJ, FBI, Congress and the Surpreme Court should be all over it. The Goldman folks were so deep, it’s not funny. Does no one else in the public see this! The American taxpayers are sheep and we are being slaughtered. Not only by a corrupt gov’t., but too, those top 5% corporate rich folks (you know, the ones that Obama keeps saying he is in favor of taxing more). The real power of this country has been and always will be money! The Goldman board, Paulson and the rest should be in jail! Has anyone looked into the bonus paid by Goldman? If AIG did not get bailed out, Goldman would be bankrupt – as would many of the economies of Europe! OMG – this is insanity, we need to re-start the entire thing!
Of course Goldman and the rest were in on this. Do you want to know why? Simple, because they can. The really huge money (hundreds of millions & billions) and control goes to those who are best at wielding violence on a large scale and that is today and has historically been governments. It’s up to us to stop supporting government; nobody “supports” government and it’s so obvious it’s not even funny. If anyone does support government why are taxes compulsory?
Just follow the dots. Bernanke and Geitner to Goldmans to AIG. The American Taxpayers have been hood winked into taking care of greed and dishonest dealings and it is our nation that is suffering because of a few. How long will we as United States Citizens be willing to bailout companies who make risks beyond belief, because “They are too big to fail”? A few line their pockets at the expense of our Nation. Thesee companies were not to big to fail and should have been allowed to fail.President Obama and Congress needs to quit “dithering” and put in new leadership in the Financial Sector of our Nation. There is way too much conflict of interest with Geitner and Bernanke. It is time to appoint new leadership.
This whole deal Stinks Henry Paulson had his Goldman folks attend most all the closed door gov meetings that no other private companies were allowed to attend Why???
SO THEY COULD MAKE SURE THEY WERE TAKEN CARE OF AND MAYBEY PROTECT HIS PRIVATE INTREST AND THAT OF HIS BUDDIES IN GOLDMAN HOLDINGS.
TO BIG TO FAIL MY *** THEY SHOULD BOTH BE GONE!!!!!!
They are a bunch of freeking crooks and should be UNDER THE JAIL …..
AIG ought to control the risks when the risks are too big to swallow and where are the government regulators! If they don’t know the ABC of insurance, study it asap to avoid next financial catastrophe.
the thing that bothers me is that the article and folks everywhere keep talking about how AIG and Goldman all “insured” these trades..the fact is that a credit default swap was not intended to act as an insured transfer of risk. It was done that way to get around state regulation.. it was supposed to be the new “innovative” securities that banks and hedge funds wanted so they could make money the old fashioned way, steal it by misrepresentation! No reserves necessary to make the commissions and fees for acting as middlemen. And it galls me more that all Barney Frank and Chris Dodd can do is write more legislation and create new government bureaucracies when in fact, the necessary tools and infrastructure were already in place. the problem was all of the people involved just plain did NOT DO THEIR JOBS! How else do you think these securities could be rated as Triple A even though they were supported by subprime loans? and was anyone actually surprised when they discovered the emperor had no clothes, that the loans were not worht the paper they were printed on? was anyone actually expecting these loans would be repaid? everyone was involved in flipping the properties until someone actually wanted to know their value and POOF! my 401(k) went into someone else’s bank account. Some financial wizards on wall street….all taken in by selling snake oil!
Read the article dated 12/9/09 by Matt Taibbi in Rolling Stone — all that “hope and change” preached by Obama was a bald faced lie– the fact is he has the most pro-wall street administration in U.S. History. Taibbi does a great job filling in the details.
Can’t help but think of a recent political cartoon showing a sinking ship– Geithner, Bernanke and Obama are on top with “Wall Street” pronouncing “The Recession’s Over!” while the ship’s lower decks–representing the middle and lower classes– are still underwater and drowning.
As much as you would like to think to save our tax money and let the all fail, you have to remember all these institutions were intertwined in one way or another. Systemic Risk. Back then I was yelling the same thing…let them all go down. I didn’t care.
But now if you understand how this was all tied together, you would have wanted them saved. Or we would be trading cows and chickens as curency.
Sucks!
ineresting too how hank paulsen kept his banker friends and former co-workers afloat with tax money bail out. too bad our politicians didn’t let them fail too – i always thought investors ran the risk of losing money, except on Wall Street. i sure could use a bail out about now…..!
What happened as Bush left and Obama came in, is nothing short of the biggest conspiracy that has ever happened. The DOJ, FBI, Congress and the Surpreme Court should be all over it. The Goldman folks were so deep, it’s not funny. Does no one else in the public see this! The American taxpayers are sheep and we are being slaughtered. Not only by a corrupt gov’t., but too, those top 5% corporate rich folks (you know, the ones that Obama keeps saying he is in favor of taxing more). The real power of this country has been and always will be money! The Goldman board, Paulson and the rest should be in jail! Has anyone looked into the bonus paid by Goldman? If AIG did not get bailed out, Goldman would be bankrupt – as would many of the economies of Europe! OMG – this is insanity, we need to re-start the entire thing!
Of course Goldman and the rest were in on this. Do you want to know why? Simple, because they can. The really huge money (hundreds of millions & billions) and control goes to those who are best at wielding violence on a large scale and that is today and has historically been governments. It’s up to us to stop supporting government; nobody “supports” government and it’s so obvious it’s not even funny. If anyone does support government why are taxes compulsory?
Just follow the dots. Bernanke and Geitner to Goldmans to AIG. The American Taxpayers have been hood winked into taking care of greed and dishonest dealings and it is our nation that is suffering because of a few. How long will we as United States Citizens be willing to bailout companies who make risks beyond belief, because “They are too big to fail”? A few line their pockets at the expense of our Nation. Thesee companies were not to big to fail and should have been allowed to fail.President Obama and Congress needs to quit “dithering” and put in new leadership in the Financial Sector of our Nation. There is way too much conflict of interest with Geitner and Bernanke. It is time to appoint new leadership.
Crooks every f****** one of them
This whole deal Stinks Henry Paulson had his Goldman folks attend most all the closed door gov meetings that no other private companies were allowed to attend Why???
SO THEY COULD MAKE SURE THEY WERE TAKEN CARE OF AND MAYBEY PROTECT HIS PRIVATE INTREST AND THAT OF HIS BUDDIES IN GOLDMAN HOLDINGS.
TO BIG TO FAIL MY *** THEY SHOULD BOTH BE GONE!!!!!!
They are a bunch of freeking crooks and should be UNDER THE JAIL …..
AIG ought to control the risks when the risks are too big to swallow and where are the government regulators! If they don’t know the ABC of insurance, study it asap to avoid next financial catastrophe.
the thing that bothers me is that the article and folks everywhere keep talking about how AIG and Goldman all “insured” these trades..the fact is that a credit default swap was not intended to act as an insured transfer of risk. It was done that way to get around state regulation.. it was supposed to be the new “innovative” securities that banks and hedge funds wanted so they could make money the old fashioned way, steal it by misrepresentation! No reserves necessary to make the commissions and fees for acting as middlemen. And it galls me more that all Barney Frank and Chris Dodd can do is write more legislation and create new government bureaucracies when in fact, the necessary tools and infrastructure were already in place. the problem was all of the people involved just plain did NOT DO THEIR JOBS! How else do you think these securities could be rated as Triple A even though they were supported by subprime loans? and was anyone actually surprised when they discovered the emperor had no clothes, that the loans were not worht the paper they were printed on? was anyone actually expecting these loans would be repaid? everyone was involved in flipping the properties until someone actually wanted to know their value and POOF! my 401(k) went into someone else’s bank account. Some financial wizards on wall street….all taken in by selling snake oil!