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Originally posted by Sergeant Stiletto
Former Treasury Secretary Hank Paulsen approved the original bailout terms for AIG.
AIG's biggest risk was Goldman Sachs. Paulsen is the former head of Goldman Sachs.
If AIG failed then Goldman Sachs would fail and vice versa.
Both companies fell under the jurisdiction of the NY FED headed by Tim Geithner, the current Treasury Secretary, and Ben Bernanke, FED Chairman.
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. ...
See... next quarter... AIG will plead for another 10$-of-billion$...
which will again be back-doored to the likes of Goldman et al....
the bailout should include the AIG cessation of their exotic Swaps & other derivatives (AKA: gentlemen's bets debt instruments)...
we might wonder just what holdings does AIG have for which liability might become due in the future?
we might wonder if there is also collusion between the counter-parties in creating CDSwaps that are guaranteed to be losers to AIG,
but are guaranteed to be paid by we taxpayers in this open-ended 'bail-out' process...
just a few 'what-ifs' to ponder...
Originally posted by grover
Oh come on like Glenn Beck has any crediblity or intelligence.
The guy is a moron.
Originally posted by marg6043
reply to post by disgustedbyhumanity
Guess what they will not, because the morons in Washington believe that paying out debt with more debt is going to fix the markets.
I contest that. They are not that stupid and they are merely paying off their buddies.
The the poster boy Geithner is telling that he will make sure that AIG pays back their bonuses.
And, I suppose, BS, oh I mean the President, will pay back the 'bonus' he got?
I guess Geithner thinks that Americans are stupid.
Hey, he won!
And that news like that is going to make us all happy.
What a moron.
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.”