Let's Talk About How Goldman Makes Money; 1 in 6 in USA Unemployed or Underemployed

[asiaprop]

I did not plan to argue with you anymore but since you asked before here it goes: No, I would have any issues with that. I also would have no issues if a large car maker gets bailed out and in turn uses some or all of those funds to cover its legal obligations to parts suppliers, employees or what have you. What else should AIG have used the money for, to reward its incompetent senior management? Are you really so naive to believe that the administration bailed out AIG because they cared about AIG so much or could it perhaps have been in order to not endanger creditors to AIG that would have received next to nothing on obligations, AIG had to such companies, including GS?

I strongly disagree with moneys that have been paid to AIG out of future taxpayers' pockets. But that AIG paid up on its obligations was 100% the right thing to do.

Quote from ByLoSellHi:

asiaprop, I won't take too much time again addressing you with a question that I did earlier, as you've never answered, but it would be nice to know how you feel since you seem so in love with GS.

If the bailout of AIG and taxpayer funds of around 170 billion were a back door way to ensure AIG counter-parties such as GS (which was the biggest single counter-party to AIG, I do believe) would get paid on their CDSs, do you have any issues with this?

Thanks a lot for your anticipated response.

A yes or no would suffice, but I have a feeling you'll barely be able to contain yourself whatever your answer, and expound profusely upon it.

 

[ivanbaj]

Quote from Martinghoul:

Very cryptic, but true, nonetheless...

After I posted, I realized that it was no clear what my position was on your post.

My position is that the articles you posted are of very high quality.

 

[WaveStrider]

Quote from asiaprop:

...correct...in the same way every other corporate acts. Do you think P&G, Pfizer, GE, Microsoft act any differently? If you dislike that as a corporate you can "pay" yourself out of wrongdoing then, AGAIN, take it up with the legal system in the U.S., not GS.

I see your point, and you are correct.

But by that same logic, who told AIG to write insurance that they didn't have reserves to pay up on?

Let GS and others they insured sue Joe Cassano and AIG executives for it.

 

[Anaconda]

Quote from asiaprop:

it sounds like GS has staged a huge covert operation to infiltrate the rest of government, society, academia in order to benefit the "outlet".

GS has its "ex"-partners all over the governmental positions, Henry Paulson being the best example. Glenn Beck, whom I don't even like, did do an excellent 6 min skit on it. You can deny it all you want, but it is on youtube and embedded in a thread on this forum.
One of GS's board of directors members is in a governmental position while still being active participant in GS and owner of stock, a blatant conflict of interest and against the law. So the cronies just got him a 1 year waiver.

I mean really, do you need a basic diagram? Oh wait, Glenn Beck already did that and you still don't get it.

Hence why you are:

A) retarded
B) GS middle office suck up loser
C) Gay Booty call for a GS exec
D) All of the above

 

[ByLoSellHi]

Quote from asiaprop:

I did not plan to argue with you anymore but since you asked before here it goes: No, I would have any issues with that. I also would have no issues if a large car maker gets bailed out and in turn uses some or all of those funds to cover its legal obligations to parts suppliers, employees or what have you. What else should AIG have used the money for, to reward its incompetent senior management? Are you really so naive to believe that the administration bailed out AIG because they cared about AIG so much or could it perhaps have been in order to not endanger creditors to AIG that would have received next to nothing on obligations, AIG had to such companies, including GS?

I strongly disagree with moneys that have been paid to AIG out of future taxpayers' pockets. But that AIG paid up on its obligations was 100% the right thing to do.

While I could not possibly disagree more vehemently with your position, thanks for answering my question in a relatively straightforward manner.

GS is the poster child of the raping of middle American taxpayers, IMO, and this is exclusively due to their extremely nepotistic and corrupt relationship with the highest levels of our government officials.

Had AIG not owed a single dollar to GS, I truly doubt whether the 170+ billion in taxpayers free money would have been provided them, so they could in turn pay their chief creditor, Goldman Sachs, the money they legally owed it by way of private contract (off market) arrangements and vehicles, sans forced bankruptcy (as was the case in so many other cases, and practically the outcome even in the Lehman case [i.e. creditors getting pennies, not 100%, on the dollar]).

 

[WaveStrider]

Quote from ByLoSellHi:


GS is the poster child of the raping of middle American taxpayers, IMO, and this is exclusively due to their extremely nepotistic and corrupt relationship with the highest levels of our government officials.

The recourse GS and others had was to sue AIG for the money they were owed.

 

[ByLoSellHi]

Quote from WaveStrider:

The recourse GS and others had was to sue AIG for the money they were owed.

Suing a bankrupt and INSOLVENT AIG, had the government not saved it with taxpayer money, wouldn't have been nearly as much fun or profitable for Goldman.

 

[libertad]

Quote from ByLoSellHi:

Suing a bankrupt and INSOLVENT AIG, had the government not saved it with taxpayer money, wouldn't have been nearly as much fun or profitable for Goldman.

.............................................................................

Here's the Govt. Logic....

Tom owes Johnny Dough some dough....

Tom cannot pay Johnny Dough....

But wait ....Johnny Dough has a friend called Govt. Logic...

Although Govt Logic does not know Tom....

Govt. Logic gives Johnny Dough...his Tom dough....

Or is Johnny Dough really Govt. Logic after all....?


Signed off by FASCIST FUBAR....A dual employee of both Johnny Dough/Govt. Logic....

 

[WaveStrider]

Quote from ByLoSellHi:

Suing a bankrupt and INSOLVENT AIG, had the government not saved it with taxpayer money, wouldn't have been nearly as much fun or profitable for Goldman.

asiaprop is correct in that GS and others should have taken it's payment due up with the US legal system, suing AIG for what it was owed.

There might have been an argument about not doing sufficient due diligence on it's insurer, but that would have been a legal battle for the courts.

 

[asiaprop]

incorrect! You dont know your facts, all I have to say to you.

Quote from Anaconda:

One of GS's board of directors members is in a governmental position while still being active participant in GS and owner of stock, ....and against the law. [/B]