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Paulson's former firm to be among largest beneficiaries of bailout

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posted on Sep, 23 2008 @ 03:17 PM
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Paulson's former firm to be among largest beneficiaries of bailout


rawstory.com

It certainly pays to be Treasury Secretary if your former firm is a brokerage house, a new study says.

Goldman Sachs Group -- formerly run by Treasury Secretary Henry Paulson, and Morgan Stanley, stand to be among the biggest beneficiaries of a $700 billion US bailout.
(visit the link for the full news article)




posted on Sep, 23 2008 @ 03:17 PM
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In Goldman's 2006 proxy statement Henry Paulson had approximately 4.6 million shares in Goldman Sachs.

Talk about a conflict of interest!!

Here we have a single man asking to be in charge of a 700 billion dollar bailout of his OWN company in which he has a huge personal fortune. Just sayin...

rawstory.com
(visit the link for the full news article)



posted on Sep, 23 2008 @ 03:37 PM
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"Goldman Sachs was one of several institutions actively involved in the accounting fraud, its contribution being earnings manipulation through the creation of MBS’s – mortgage-backed securities – in Fannie’s portfolio, a strategy remarkably similar to Goldman’s actions on behalf of Enron. Of note also is the fact that in 2005, while the investigation was ongoing, Congress placed Fannie directly under the Federal Reserve, raising the specter of a surreptitious government bail-out outside the public eye, at some point."

[That’s from an investment report I did on Goldman Sachs in August 2006. The only thing wrong in it was that the government bail-out took place in full view of the public.]

That is to say, while Hank blubbers on about how we need more regulation, that’s only now, during bust-time. Way back in bubble-time, Hank’s old firm was busy dabbing rouge on the pork in Fannie’s books and playing hopscotch with regulations."



posted on Sep, 23 2008 @ 04:15 PM
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It just gets better and better. They might as well tell everyone honestly that they are going to steal all your money and snip you in the snip as they believe they can do anything and everything with impunity. And they are right.

The contempt for us is just sickening and we deserve it if we don't act!



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