Politics
Out of context: Reply #6059
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- TheBlueOne0
Come back Elliot! From Elliot Spitzer's article at Slate earlier in the week. He nails it:
"Why can't Wall Street royalty shoulder some of the burden? Why did Goldman have to get back 100 cents on the dollar? Didn't we already give Goldman a $25 billion capital infusion, and aren't they sitting on more than $100 billion in cash? Haven't we been told recently that they are beginning to come back to fiscal stability? If that is so, couldn't they have accepted a discount, and couldn't they have agreed to certain conditions before the AIG dollars—that is, our dollars—flowed?
...What was the precise conversation among Bernanke, Geithner, Paulson, and Blankfein that preceded the initial $80 billion grant?
Was it already known who the counterparties were and what the exposure was for each of the counterparties?
What did Goldman, and all the other counterparties, know about AIG's financial condition at the time they executed the swaps or other contracts? Had they done adequate due diligence to see whether they were buying real protection? And why shouldn't they bear a percentage of the risk of failure of their own counterparty?
What is the deeper relationship between Goldman and AIG? Didn't they almost merge a few years ago but did not because Goldman couldn't get its arms around the black box that is AIG? If that is true, why should Goldman get bailed out? After all, they should have known as well as anybody that a big part of AIG's business model was not to pay on insurance it had issued.
Why weren't the counterparties immediately and fully disclosed? "
All those who think the little prostitute sting he got caught up in wasn't politically motivated to get a sharp guy like him out of the way, raise their hand...
*raises hand
- At the fear of sounding like a horn dog today. That prostitute was really sexy. At least that guy has great taste. I like him.tommyo
- And yeah, this Goldman Crew in Washington is a little curious considering their involvement throughout.tommyo
- I mean, he was a moron, but most politicians get that stuffed hushed under the table..TheBlueOne
- ..at least those that "play along to get along"TheBlueOne
- .. and not those who tap dance between bathroom stalls. :Otommyo