AIG is money laundry scheme, Congress is using Misdirection! (Glenn Beck), page 3

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. ...

hey there Sergeant Stiletto,

we seem to have rooted out the essence of the stink,
RE: i just wrote a thread reply at: www.abovetopsecret.com...
Thread: "Spitzer is back!: 'The Real AIG Scandal'

[...]
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...
thanks

good informative post & mindscape you've painted



[edit on 18-3-2009 by St Udio]

reply to post by gravytrain

---

I agree with what you’re saying, but then the US Government should only give money to AIG and not to TARP. Or the US Government should let AIG fail and cover the losses to the banks through TARP.

The most important thing is that this is double dipping. The Banks are being compensated twice for the same bad assets. The difference is that with TARP, there are strings attached to the money and through AIG, there aren't any.

Additionally, you buy insurance and you understand that if the insurance company goes bankrupt, you lose your policy. There is no FDIC for insurance. Now here, the banks made their insurance company go bankrupt by asking them to insure terrible investments, and the insurance company was complicate in making these high leverage bad bets look like safe investments.

I say that if this was really about protecting the taxpayer, the gov should have seized AIG, sold off the property and casualty business for a profit, and shut down the financial side of the company.

Then, if they must make bailouts, do it directly through TARP with all kinds of regulations and strings attached. This is double dipping, and unjust enrichment.

Finally, why should US taxpayers bailout foreign banks. They were gambling on these highly speculative derivative instruments related to the US real estate market. They made bad bets. This has nothing to do with the US taxpayer. Sometimes, when you gamble, you lose.

Originally posted by marg6043
reply to post by disgustedbyhumanity

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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.

Not a moron, a Luciferian.

reply to post by St Udio

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WOW! I'm embarrassed that I let this little fact slip by me. This seals it IMO:

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.”

I love how they keep emphasizing snippets like "He only makes a dollar per year salary." and "He's doing a service for his country." No. He is doing a service for Goldman Sachs. Or should we say, an inside job.




[edit on 19/3/2009 by kosmicjack]

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