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Thursday, January 27, 2011

Goldman Sachs outright Lied about their back door bailout from AIG


The financial commission has found! Yet, our U.S. Treasury is run by all past Goldman Executives and arranged this right now.


Posted by Sherrie Questioning 

The financial commission has found Goldman Sachs lied about their back door bailout from AIG and where the 2 billion they got from them, went.   Goldman Sachs, when it was revealed, they had also gotten money from AIG, after the government (U.S. taxpayers) bailed AIG out, Goldman said it went to their clients.

Goldman Sachs had gotten money directly in the TARP bailouts of 2008, but it was revealed last year, they had also gotten two billion from AIG during the TARP bailouts also.  Goldman claimed it went to their clients or institutions who invested through them.

Goldman Sachs out right lied, which should be no surprise to anyone.  The money it has been found, went straight into the company's bottom line as profit.  They of course have shown billions in profit since 2008, thus they have given their workers billions in bonuses. 

Everyone in the U.S. government who has anything to do with the government's finances are former Goldman Sachs executives, including the chairman of the Private bank of The Federal Reserve!

Geithner our Treasury secretary a former Goldman Sachs executive and then became the head of the Federal Reserve in New York and is the one who arranged the AIG bailout.  If anyone thinks, he did not know billions would be going to Goldman Sachs while arranging the bailout of AIG, then they are looking through the information with clouded lenses.

Now, what will the government do with the information that Goldman Sachs out right lied about where 2 billion went during the TARP bailout from AIG?  I won't hold my breath, of indictments or jail time for Goldman people.  I have found it is okay in the government's eyes for billions and trillions to be stolen by big corporations, but gosh forbid a regular person steals $10 from one of those corporations or banks, jail time will be years for them.   

Portions from article:
When news first broke in 2009 that Goldman had been an indirect beneficiary of the AIG bailout, collecting the full value of some $14 billion in outstanding insurance polices it held with the firm, the officials who brokered the deal justified these terms as a necessary stabilizer for the broader financial system. As the world's largest insurance company, AIG's inability to cover its outstanding obligations could have threatened the solvency of the institutions holding its policies, asserted the Federal Reserve Bank of New York, which oversaw the deal.

Goldman fended off claims that the arrangement amounted to a backdoor bailout by asserting that none of the money from the AIG rescue landed in its own coffers. Rather, those funds went to compensate clients or institutions on the other side of its trades, Goldman said. 

The report reveals another pot of money conveyed to Goldman--the $2.9 billion to cover trades the Wall Street investment house made for itself. That money went straight to the bank's bottom line, according to the report.
  
Over the last two years, Goldman has reported nearly $22 billion in profits, according to its official earnings statements. During those years, it has paid out $31.6 billion in compensation to its employees. 

According to the lawsuit, Goldman allegedly concealed the fact that it designed the basket of mortgage-linked securities to fail at the behest of another client who netted about $1 billion by betting against them. Goldman sold the same investments to other clients--mostly European banks--without disclosing their provenance, according to the SEC's lawsuit.

The details in the commission's report leave Goldman "naked," she added. "It doesn't have the fig leaf of a systemic risk argument. Normally what happens when you have a sophisticated institution that's doing stupid credit stuff is you let them eat it, but that didn't happen in the bailout."

Are we ever going to see prosecution of outright theft of the American people by the big banks and those who have raped the American people and continue to rape them, by foreclosing on them fraudulently?   
OH, btw: Litton Loan Servicing is owned by Goldman Sachs!  So, those with Litton Loan servicing I am asking you to get in touch with me, especially in Tennessee.  
Including those who have already been foreclosed on by Litton Loan - PLEASE email me.

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