If AIG received the $170 B to pay off smart banks that properly hedged their risks, then that is what they use it for. GS only received about $13B of the 170B, so there were other banks that were smart enough to hedge, also. Where is the "populist rage" against the banks that took home the other $157B?
You voted for obammy, didn't you????? If so, I'm not surprised you are confused, as obammy voters are such a "wise" group, always able to assess the knowledge level of others when they themselves are unable to correctly answer simple questions. Oh, the irony! http://www.youtube.com/watch?v=NyvqhdllXgU
True or not, he's right on cue here. I would be interested to know how much influence GS has on Ivy League MBA admissions.
If GS did nothing wrong why did they need TARP money? Why did they need a massive infusion from Buffett and Co.? Why did they have to convert to a Bank Holding Company? Why did AIG have to be bailed? The answer is quite simple. Without all of that GS would have suffered the same fate as LEH and BSC.
My post does not reference anything but Glenn Beck, so it is clear of what value you will be with your postings.
Actually, your post attacked the messenger and ignored the message. I simply placed your "assessment" into perspective.