“Yes, we did it, we’re very sorry, we won’t do it again.”

headline::telegraph

amd_paulson

“Name: Henry Merritt “Hank” Paulson

DOB: March 28, 1946

Religion: Christian Scientist

Accomplishments: Chairman and CEO of Goldman Sachs & Co. 1999-2006″//mcClutchy

“He led the administration’s struggle to contain an economic contagion stemming from a disintegrating housing sector, volatile financial markets and frozen credit, resurgent inflation and widening job losses.

Mr. Paulson took office in 2006, and a year later faced a growing credit squeeze.

At first he sought to remain aloof from the crisis, but he adopted a more assertive approach toward the end of 2007, working with the mortgage industry to adopt a temporary freeze in interest rates for some of the two million homeowners who had bought houses with subprime loans and faced big increases in their monthly payments as their introductory rates expired.

In January 2008, concerned about the prospects of a recession, Mr. Paulson led the administration’s drive for a $145 billion package of tax cuts and incentives to spur the economy”//nytimes

“Investors in the $591 billion high- yield, high-risk loan market are accusing Goldman Sachs Group Inc. of naked short selling to profit from record price declines.

At least two fund managers complained verbally to officials of the Loan Syndications and Trading Association, saying they believe Goldman helped drive down prices by using the technique, according to people with knowledge of the objections. New York- based Goldman is acting against its clients by trying to profit at their expense, the investors said.”//bloomberg2008

rhlogo

“As we interpret this – the firm declined to elaborate – Goldman made more on its hedges than it lost on its inventory because junk mortgages fell even more sharply than Goldman thought they would.”//CNN2007

blankfein

“Lloyd Craig Blankfein

Board member of Rockefeller family‘s Asia Society

Robin Hood Foundation”//wiki

“Now, it will be his job to implement Paulson’s vision of offering a sophisticated financing solution to any problem.”//businessweek2004

“While Wall Street still mints money advising companies on mergers and taking them public, real money — staggering money — is made trading and investing capital through a global array of mind-bending products and strategies unimaginable a decade ago..Mr. Blankfein is an architect of this change at Goldman, and it has paid off richly for shareholders, employees and clients..”//NYT

“Paulson, according to a celebratory 2006 BusinessWeek article entitled “Mr. Risk Goes to Washington,” was “one of the key architects of a more daring Wall Street, where securities firms are taking greater and greater chances in their pursuit of profits.”

US-ECONOMY-FINANCE-PAULSON

“Goldman’s good fortune cannot be explained by luck alone.”//nyt

“Has Goldman Sachs Taken Over the Bush Administration?”..Since taking office, Paulson has overseen the destruction of three of Goldman Sachs’ rivals.”///wsws

“You don’t have to be a conspiracy theorist to recognize that a series of decisions and events have transpired to put Goldman at the top of the heap. Well before the credit crisis, people worried about Goldman’s influence in the markets. Several former executives of the investment bank have senior roles in government and at the New York Stock Exchange, and its analysts are among the most powerful in the space.”//marketwatch

“Former Goldman employees head the New York Stock Exchange, the World Bank, the U.S. Treasury Department, the White House staff, and firms such as Citigroup and Merrill Lynch.”//wiki

kashkariswearsin

“Neel Kashkari, a former Goldman Sachs executive and Paulson protégé has been named interim head of the government’s $700 billion rescue group – overseeing the $700bn plan to purchase Toxic assets from financial institutions.”//economicrot

dw080603030.jpg

“Kashkari, who ran Goldman’s information technology security investment banking practice in San Francisco before joining the Treasury, will oversee the Treasury’s effort to buy bad loans and other distressed securities.”//dailymail

“Amid complaints about a lack of transparency in use of bailout funds, changing horses midstream and playing guessing games to save the US economy, Congress slammed Kashkari — who has already appeared uncomfortable answering questions — for his performance thus far.”//huffingtonpost

taxpayerman

“Sept. 22 (Bloomberg) — Goldman Sachs Group Inc. and Morgan Stanley may be among the biggest beneficiaries of the $700 billion U.S. plan to buy assets from financial companies while many banks see limited aid, according to Bank of America Corp.”//ourfuture

“‘AIG’s interest in creating the company is to create a reinsurance facility which will permit its U.S. companies to write more U.S. premiums. ..Goldman Sachs failed to respond to inquiries about its role in setting up Coral Re. In May this year (2005), New York State Attorney General Eliot Spitzer filed suit against AIG and Greenberg, charging a pattern of fraud through the use of ‘sham transactions’ that bolstered the conglomerate’s financial statements.””//spitfire

forbes_0413_p096

“The Government bailouts of AIG to over $180 billion to date has primarily gone to pay off AIG’s Credit Default Swap obligations to counterparty gamblers Goldman Sachs, Citibank, JP Morgan Chase, Bank of America, the banks who believe they are ‘too big to fail.’ In effect, these five institutions today believe they are so large that they can dictate the policy of the Federal Government. Some have called it a bankers’ coup d’etat. It definitely is not healthy.”//abovetopsecret

“He points out that the AIG bailout money ($123 billion, give or take) is going straight to counterparties -including Goldman Sachs-and not even stopping at AIG long enough for a cup of coffee.”//citypaper

“The deal Greenberg struck was to give the AIG Financial Products executives 30% of the revenues from this operation, an enormous motivation to write as much business as they possibly could. Moreover, its holding company had no regular oversight by AIG’s board and was not regulated by any government body.”//dailykos

OBAMA/

“Mr. Bernanke made it clear that he supported a stimulus package of increased spending and tax cuts..”///NYT

“The total fiscal gap could be an almost incomprehensible $65.9 trillion, according to a study by Professors Gokhale and Smetters…The figure is massive because President George W Bush has made major tax cuts in recent years, and because the bill for Medicare, which provides health insurance for the elderly, and Medicaid, which does likewise for the poor, will increase greatly due to demographics.”//telegraph2006

missing_money

“Of course, it’s easy enough to criticise the plan, and imagine sinister bankster conspiracies. It’s much harder to imagine a plan that wouldn’t be prey to all kinds of scary pitfalls and moral hazards. It’s really not that surprising that US president Barack Obama is having trouble filling senior Treasury jobs – who’d want the responsibility. Aside from current and former Goldman execs, that is.”//moneyweb

“This [Federal Reserve Act] establishes the most gigantic trust on earth...From now on, depressions will be scientifically created.…‘We shall have World Government whether or not we like it. The only question is whether World Government will be achieved by Conquest or Consent.”//sliderontheblack

“The new law will create inflation whenever the trusts want inflation…they can unload the stocks on the people at high prices during the excitement and then bring on a panic and buy them back at low prices…the day of reckoning is only a few years removed.”//conspiracyarchive

“The Fed has several missions, and monetary policy is the primary one,” said Alice Rivlin, a Brookings Institution scholar and former Fed vice chairman. “But they also have a mission to stabilize the banking system, and we’re in the process of expanding our view of what the banking system is.”//wapo

“We collectively have a lot to do to regain the public’s trust and help mend our financial system to restore stability and vitality. Goldman Sachs is committed to doing so.”//FT

Shining Light on the Bailout Effort

Despite Pushback, Watchdog Calls for More Transparency at Treasury//wapo

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One comment on ““Yes, we did it, we’re very sorry, we won’t do it again.”
  1. nexuslex says:

    fischen im Trüben, just a guess, es gibt viel zu tun, packen wir es an…

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