Fed asks Goldman to help on on AIG Ben Bernanke hisself called Goldman and sez, 'hey! can you guys stop shortin' this fuckin' thing to kingdom come for a fuckin' day er two, for Christ's sake???' 'Sorry Ben, we got the system tuned, it's on autopilot, and we can't call back the planes, their gonna blow Moscow.'
I think so. Fed announced it'll take sub AAA securities for treasuries last night. Same time, Banks announced they'll altruistically throw in 70 billion to help beleaguered competitors. Fed is taking hundreds of billions off level 3 in exchange, Corporate Wallstreet becomes the new face of socialized bailouts. Goldman is probably *making* money on that 7 billion dollar "gift". Thats 7 billion+ they couldn't dump off their books. Now the Feds taking all that (and more) in exchange for cash. Government using private sector as proxy to bailout out Wallstreet. 110%.