Goldman Sachs Wins Big In Secret Bailout Via AIG

In case you were wondering where on earth all that money went that you shoveled into the black hole known as AIG, we now have a pretty good idea.

* $13 billion of it went to Goldman Sachs
* $12 billion went to Soc Gen
* $12 billion went to Deutsche Bank
* $9 billion went to Barclays
* $7 billion went to Merrill Lynch
* $5 billion went to Bank of America

The Business Insider

Wow. Just wow. If this isn't the biggest wake up call to the American tax payer, I do not know what is!!!

Does noone have even the slightest issue that YOUR tax dollars are not even propping up the company you thought you were? Erm, how bout the fact that you are now supporting the same firm that Paulson used to run?

This is money laundering on a grand scale.

And how bout within days of the first infusion Goldman Sachs turned around and sent 5 billion to Dubai?

reply to post by hadriana


Thank you! Now you see the real NWO in action.

I suppose it was to buy THIS

Goldman to advise on 45 billion UAE banking merger

"Goldman Sachs is one of a growing number of international banks strengthening their presence in the Gulf region where record high oil revenues are spurring a surge in demand for financial services to advise on mergers and acquisitions."

www.marketwatch.com...[55169E45-2B3E-4008-A2EC-AFBA768997E8]

There's THIS: www.telegraph.co.uk... Showing JP Morgan involved with fixing DUBAI's problems too.

Lots of companies moving to Dubai too - like Haliburton, and I heard rumors but can't find back up now, of some major financial firms moving offices and even headquarters there.
Moving to Dubai means no more income taxes, and no more taxes on corporate profits. It also means really tough extradition laws too - maybe that is why Cheney bought a house there. lol
IMO it is about as unpatriotic a thing as could be done right now.

[edit on 16-3-2009 by hadriana]

[edit on 16-3-2009 by hadriana]

Can anyone refute this!?

futurenewstoday.blogspot.com...

The case for indicting the executive leadership of Goldman Sachs becomes clearer by the minute, but will Congress act? Here is the case as it is emerging in the past few months. Clearly the GS insiders were acting to defraud the American public with an elaborate shell game. And then there is AIG. And then there is the role of the Federal Reserve. It's a lot of material to cover but I will do my best to make sense of it all. After that it is up to you to follow the links and do some investigating of your own. This is big. This is very big. This makes Madoff's Ponzi scheme look like child's play...

more at link

What I don't understand is where are the angry mobs with pitch forks?

We should be burning down every AIG building throughout the country.

We should be going to washington that taking back congress, by force if necessary.

We should be fighting for our freedom. Instead, we are watching american idol.

This info is very relative to this thread.

Goldman Sachs was the largest counter-party beneficiary of the AIG bailout. Former Treasury Secretary Paulson was the former CEO of Goldman Sachs and approved the AIG bailout along with former NY Fed Chairman Tim Geithner. The man tapped to oversee AIG during this crisis, Edward Liddy, is a former Goldman Sachs Board Member. Nice.


www2.goldmansachs.com...

New York, NY - September 26, 2008 -- The Goldman Sachs Group, Inc. (NYSE:GS) today announced that Edward M. Liddy resigned as a member of its Board of Directors in light of his new role as Chairman and Chief Executive Officer of American International Group, Inc. His resignation was effective September 23, 2008. Mr. Liddy had been a director of Goldman Sachs since June 2003. During that time, he served as chairman of the Audit Committee and as a member of the Corporate Governance and Nominating Committee and the Compensation Committee.

"Ed has played an invaluable role on our board over the last five years,” said Lloyd C. Blankfein, Chairman and CEO of The Goldman Sachs Group, Inc. “His judgment, financial acumen and deep interest in the culture of our firm have benefited our people and our shareholders. While we are sorry he can no longer serve on our board, we are proud that Ed is taking on such an important responsibility during this critical time.”

It's all just a big shell game.

Goldman has a private equity fund that is for employees only. Now, due to the economic meltdown, the fund is doing poorly and the employees who took advantage of the quasi-insider deal can't meet their capital calls. Goldman's answer is to provide them with loans that can only be used for payment on the equity fund. You cannot make this stuff up.

www.nytimes.com...

Goldman Sachs got its bailout. Now some of its bankers, those aristocrats of Wall Street, apparently need a bit of a bailout too.

Goldman, which accepted billions of taxpayer dollars last fall and, as learned Sunday, was also a big beneficiary of the rescue of the American International Group, is offering to lend money to more than 1,000 employees who have been squeezed by the financial crisis. The loans, offered via e-mail last week, could range from a few thousand dollars to hundreds of thousands.

Working at Goldman has long been regarded as a sure path to riches. But Goldman’s employees are losing money on their personal investments — particularly in Goldman’s own elite investment funds, which have been considered one of the perks of working at the bank.

Now these funds have stumbled, and some Goldman employees who financed their gilded lifestyles by borrowing in good times are suddenly short on cash needed to meet commitments to their personal investments in the funds...

Some Goldman employees got rich before the markets collapsed, allowing them to invest several million dollars in the funds, often on a leveraged basis. Only three years ago, Goldman paid more than 50 employees more than $20 million apiece. In 2007, its chief executive, Lloyd C. Blankfein, collected one of the biggest bonuses in corporate history — nearly $70 million.

But one former Goldman partner estimated that a quarter of the bank’s roughly 100 partners are now worth $5 million or less because of losses on their company stock and other investments...

The funds periodically require investors to add more money, and late last year, Goldman’s most senior management and board began to realize some employees might have trouble living up to this obligation after receiving low bonuses, according to a person briefed on the situation.

Employees in the funds are contractually obligated to meet requests for more capital. Several funds have such capital calls scheduled for April. Employees who fail to make the payments risk losing their jobs, according to a person familiar with the situation.

Taxpayers are subsidizing this snipping ponzi scheme.

Don't take my statements as any sort of apologist rhetoric for Golman. I'm pretty sure GS is where Lucifer keeps his money, but I'm very, very angry that the funds went to European firms. That is a direct transfusion from the American taxpayer to bail out FOREIGN entities when their counterparty (AIG) failed. These were not unsophisticated institutions, they should have been able to see AIG's inabillity to pay on all these CDS's and been punished for their poor risk management.

Now to Goldman. The interconnectedness of Goldman to the government is probably one of the most corrupt appearing relationships around. Former Sec Tres Paulson was Golman CEO just before being tapped as Sec Tres. Current AIG CEO Liddy was a board member on GS before being tapped by Paulson to head AIG after the first failure. It's probably even more corrupt than it appears at first glance.

Anyway forget bonuses, they are an entertaining but small sideshow compared to who really got bailed out by the Government through AIG.

Maxine Waters is giving it to Geithner over Goldman Sachs right now. It's great. He's hedging and squirming.