Posted on 03/06/2009 9:32:54 PM PST by FromLori
The beneficiaries of the government's bailout of American International Group Inc. include at least two dozen U.S. and foreign financial institutions that have been paid roughly $50 billion since the Federal Reserve first extended aid to the insurance giant.
Among those institutions are Goldman Sachs Group Inc. and Germany's Deutsche Bank AG, each of which received roughly $6 billion in payments between mid-September and December 2008, according to a confidential document and people familiar with the matter.
(Excerpt) Read more at online.wsj.com ...
Their people seem to be everywhere in the government. I thought it was the Chinese that needed to be paid.
Well at least all the or most of the off the books black ops got paid for and we sure don’t want to have to drag AIG in and have them account for all that off the books money now do we?
Its a Disgrace!
Geithner came from Goldman Sachs didn’t he?
If I remember the Financial Times articles on this last summer, Bank of China, BNP Bank, and UBS got TARP momney as well.
I didn’t know about that but I did answer my own question Geithner did come from Goldman Sachs
http://www.aim.org/aim-column/the-big-money-behind-geithner/
No, he was the NY Fed Bank Governor.
They own Washington:
http://www.foxnews.com/story/0,2933,197554,00.html
“WASHINGTON — Wall Street powerhouse Goldman Sachs has a long list of alumni who have gone onto government service, and it looks like it’s about to give up one more of its protégés with the nomination of Chairman and CEO Henry M. Paulson Jr. to head the Treasury Department.
The move won’t be uncommon for Goldman Sachs employees. At least among its financial competitors, Goldman Sachs appears to be head and shoulders above the rest when it comes to putting former employees into the halls of government. For years, résumés around Washington have sported the company name, and those with the job experience have gone on to positions as Cabinet officials, agency analysts, advisory board members and even U.S. lawmakers.
“I don’t know of any other company in the United States who has quite this tradition. Certainly not on Wall Street,” said Stephen Hess, a senior fellow at the Brookings Institution, a liberal-leaning Washington, D.C., think tank.”
http://www.nytimes.com/2008/10/19/business/19gold.html?pagewanted=all
The Guys From ‘Government Sachs’
“In September, after the government bailed out the American International Group, the faltering insurance giant, for $85 billion, Mr. Paulson helped select a director from Goldman’s own board to lead A.I.G.
And earlier this month, when Mr. Paulson needed someone to oversee the government’s proposed $700 billion bailout fund, he again recruited someone with a Goldman pedigree, giving the post to a 35-year-old former investment banker who, before coming to the Treasury Department, had little background in housing finance.
Indeed, Goldman’s presence in the department and around the federal response to the financial crisis is so ubiquitous that other bankers and competitors have given the star-studded firm a new nickname: Government Sachs. “
WRONG!
The U.S. is the world's largest manufacturer (not China)
From wikipedia:
Manufacturing USA is the leading manufacturer in the world with a 2007 industrial output of US$2,696,880 millions. Main industries are petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining.
if the average person understood this, there would be riots.
Their money ( oh wait, i forgot, bambi fixed it so the average person doesn’t pay taxes) going to euro fascists.
Its wrong
Second: The financial times of london can't wait for China to surpass the United States, but I think due to the crisis, they will have to wait a few more years.
Absolutely!
Our projected trade deficit for 2009, at the moment of posting this comment, is over $127 billion. That...with the fact that, by much, most of the money horded here and there (imaginary and minted) is not matched with useful products.
Like, Boeing aircraft, Caterpiller construction equipment, Deere farm equipment, Intel Microprocessors.(Intel is the largest employer in the state of Oregon). General Electric turbines and jet engine. Cummins Engines sells 15 billion dollars a year out of indiana plants. United Technologies makes everything, from elevators, to air conditioners, to Blackhawk helicopters. How about the Harley Davidson Motorcycle, they are out in Wisonsin?
Ford, GM, and Chrysler still make Millions of cars a year, including the best selling car in the world in 2008 (The Ford F Series pickup...) 2008 Sales #1 Ford F-Series: 515,513
How about Lockheed Martin aerospace and defense, without a doubt the best in the world!
plus, Agriculture, Mining.... etc....
Caterpillar, for example, has 58 plants in Australia, Belgium, Brazil, Canada, England, France, Germany, Hungary, India, Indonesia, Italy, Japan, Mexico, the Netherlands, Northern Ireland, the People’s Republic of China, Poland, Russia, South Africa and Sweden.
That manufacturing is indeed owned by Caterpillar: a US manufacturing company.
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