It’s obvious to even a casual observer that Henry Paulson, Trea. Sec., needed AIG to make good on the Credit Default Swaps bought from AIG by Goldman Sachs. Paulson, former CEO of Goldman, needed $16+ billion from AIG to save Goldman from bankruptcy. Paulson also refused to help Lehman Bros., his arch rival when he was CEO of Goldman, and of course Lehman went down the drain. The goverment’s protestations that they were saving the financial system for the good of the people is political claptrap.
We can bash AIG and Hank Greenburg all we want, but this trial will likely be the only time any of the principals in this drama are publicly questioned and cross-examined under penalty of perjury about what went on.
However one characterizes it, this bailout and the others that followed were unprecedented in our history. The more we learn, the better we can act in the future (theoretically, of course).
The US bailout was not to save AIG, “The goal was to save the world from AIG.” If not for the US govt, there wouldn’t be a Starr Companies nor a US Economy!
When are we going to get to review the AIG policies that were negotiated by Goldman Sachs on behalf of their Bank Clients/the billions was paid to the Bank Clients.Are they going to call the person in charge of the Financial Products Division for AIG? Did GS create the wording for the credit default swaps.What was the commission income for GS on convincing AIG to write this financial exposure.Who is exploring the political power of GS in the highest parts of our government.
It’s obvious to even a casual observer that Henry Paulson, Trea. Sec., needed AIG to make good on the Credit Default Swaps bought from AIG by Goldman Sachs. Paulson, former CEO of Goldman, needed $16+ billion from AIG to save Goldman from bankruptcy. Paulson also refused to help Lehman Bros., his arch rival when he was CEO of Goldman, and of course Lehman went down the drain. The goverment’s protestations that they were saving the financial system for the good of the people is political claptrap.
We can bash AIG and Hank Greenburg all we want, but this trial will likely be the only time any of the principals in this drama are publicly questioned and cross-examined under penalty of perjury about what went on.
However one characterizes it, this bailout and the others that followed were unprecedented in our history. The more we learn, the better we can act in the future (theoretically, of course).
The US bailout was not to save AIG, “The goal was to save the world from AIG.” If not for the US govt, there wouldn’t be a Starr Companies nor a US Economy!
how do you figure Starr would have been wiped out?
When are we going to get to review the AIG policies that were negotiated by Goldman Sachs on behalf of their Bank Clients/the billions was paid to the Bank Clients.Are they going to call the person in charge of the Financial Products Division for AIG? Did GS create the wording for the credit default swaps.What was the commission income for GS on convincing AIG to write this financial exposure.Who is exploring the political power of GS in the highest parts of our government.