Goldman Fueled AIG Gambles

Discussion in 'Wall St. News' started by risk1, Dec 13, 2009.

  1. risk1


    Who ran Goldman at the relevant times, and how did he use such AIG-related insight to "serve the American people"?

    The trades yielded Goldman less than $50 million in profits, which were mostly booked from 2004 to 2006, according to a person familiar with the matter. But they piled risks onto AIG's books, which later came to haunt the insurer and Goldman. The trades also gave Goldman a unique window into AIG's exposure to losses on securities linked to mortgages.


    The special inspector general for the Troubled Asset Relief Program, which recently reviewed the New York Fed's effort to stanch collateral calls last year, said Goldman officials said the company believed it would have been fully protected had AIG been allowed to fail because of collateral it had amassed and the additional insurance it had bought against an AIG default.

    The auditor, however, questioned that conclusion. The report said Goldman would have had a difficult time selling the collateral and that the firm might have been unable to actually collect on the additional insurance.
  2. Goldman = Lucky Luke.
  3. Goldmann plans and fabricates market crashes to make big profits from it.
    They were also involved, even the main actor behind the scenes,
    in the 1929 crash, and to many other market crashes and crisis'.
    They are as Un-American as someone can be.
    I wonder why the US govt isn't splitting such dangerous giga companies,
    like they did with AT&T some decades ago.