Free Republic

The Treasury Department has records of the secret meetings that its President's Working Group on Financial Markets held to discuss the troubled financial markets, after all. That doesn't mean Washington wants us to know what was discussed, or whether Wall Street executives were in the meetings. The working group was founded by President Reagan back in 1989, after the stock market nearly sustained its second big crash in two years. Placed under the Treasury's jurisdiction, it lay dormant for years. It has been nicknamed The Plunge Protection Team because many people -- including me -- believe that in recent years...

While many accounts have been written about the extremely 'shady' dealings which Goldman Sachs has/had with AIG – which led directly to AIG's $180 billion bail-out – unless I've missed it, one of the key issues has been soft-pedaled and another has been ignored altogether. These two topics which I intend to discuss are a) that Goldman Sachs used AIG as its financial 'toilet'; and b) that Goldman Sachs had begun openly and deliberately misrepresenting assets/investments to investors starting in 2006 or 2007 – at a time when all the other banker-oligarchs were continuing to assert their “mark to model”...