Skip to comments.Goldman profits on both AIG's collapse, breakup
Posted on 03/02/2010 3:37:06 AM PST by Scanian
For Goldman Sachs, AIG -- and by extension, the American taxpayer -- is a gift that keeps on giving.
A year and a half after Goldman pocketed billions of dollars that Uncle Sam funneled into American International Group when it was on the verge of collapse, Lloyd Blankfein's gold-plated investment bank is set to fetch as much as $100 million by selling off pieces of the insurance giant.
Goldman is reaping fees from helping AIG unload billion of dollars worth of assets in an attempt to return the roughly $182 billion the insurer borrowed from average folk.
(Excerpt) Read more at nypost.com ...
Gee, I’m so surprised Goldman is profiting again at the expense of the tax payer.
Goldman Sachs is ruining the thought of Capitalism in the US.
When a company blatantly pockets taxpayer’s monies from both sides of ledger, then pays massive bonuses, all the while supporters say “that is the way the system works” will eventually mean a new system will be created...
Imagine, Goldman getting paid to do work. Where will it stop? I suppose these agreements should just magically unwind themselves.
As soon as the Fed and Treasury moved in to prop up AIG, the contracts should have been voided.
If the government voided the rights of senior secured debtholders of GM, then they could have been consistent and voided the contracts of Goldman, SocGen, et al with AIG.
who would have ever guessed?