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September 30, 2008

Comments

Oh My God.

So the bailout IS for the fat cats at the investment banks.

This is horrible!

I hope you keep on these people.

richie

Mike,
In normal times we could never get to the bottom of this since Goldman would tell us all to pound salt and its none of our business as "non-shareholders". But in light of this "bailout" of AIG, I think we're "shareholders" in AIG now and have a right to know as taxpayers. I'm not standing here making accusations but I can tell you 1) they did TONS of these trades and 2) the reason they didnt give a hoot when MBIA and AMBAC were having trouble is they resold off that risk to some "dopey" European bank! I kid you not. So I thought Goldman was cooked 6-9 months ago and then I fished around and voila, there it was, they had found some other sucker. Well I'm just hopin they dont feel like they found another sucker here and it is us. However, if they can come clean, I will shine Lloyd Blankfein's shoes for a year. Come on Lloyd whaddya say? Now I'm going out. Let's see if that bolt of lightning hits me. After all, I do have my insurance policy with AIG.

mike

richie:

heavy-duty questions you raise here. You think there's is something awry in fantasyland w/ these jokers?

richie

Chris M,
Very good question. I believe Paulson did have to sell his stock and then it was transferred to a "blind trust" but pally this thing I'm talkin about aint no stock. This is probably a good old fashioned hedge fund structured within Goldman that was owed money by AIG. I GUARANTEE he didnt have to sell that. Thats why as our fine public servant he can maybe spill the beans on what he and his old buddy Blankfein were talking about....ALONE.....on September 15. Look if $700bn is $2500 for each person in this land, $75bn is about $275 no? I want my $275 back for me, my family, my friends, etc. if I dont get some answers. Good ones. Pronto. And so does the sledgehammer who has a pretty popular show on TV and on radio. Like Vince Lombardi in those old NFL film clips, "what da hell is goin on around heahhhhhhh?!?!"

richie

RPB,
You are probably right (as usual). It will lead to more congressional quivering. But if the $700bn goes like this $37bn is alleged to have gone this aint gonna help anyone other then these assclowns at the top. Trust me I'm the biggest free market guy around but this crap is NOT free markets. This is a fleecing.
You can probably guess who is looking at it in the media and he is PISSED. I just told him to have his research people check and see if I've made any incorrect statements. Um, as Michael Corleone said in the first Godfather......"thats a true story Kay."

Chris M.

Great post, Richie.

Quick question, did Paulson have to sell his GS stock when he was appointed Treasury Secretary or was it simply moved to a blind trust? If the latter, I am stunned there aren't more people questioning his motives and actions.

RPB

Superb reporting. This is going to blow up and be great for you guys.

But this will also add to the populist quiver and result in more congressional squabling. Hopefully it pushes congress a more taxpayer favorable resolution.

How long can we wait?

frank

just found this blog - awesome!!

richie

Antilemming, I'm not sure about GS risk management but you are damn tootin' you are on AIG's. We will not let this die. Thanks for the kind words.

AntiLemming

If I am a US taxpayer, does that mean I am a member of the GS risk management committee?

Excellent post!

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