I was initially in favor of the bailout, until I learned the mechanics of it all. True, Goldman Sachs made out like bandits, and produced a solid return on the taxpayers' rescue funds. But it was only by suffering cataclysmic losses at AIG and Citi, which were conduits to GS and MS and a small handful of others, that was just outrageous. When all is said and done, the government will have lost over $2 trillion. And for every dollar GS earned on the government money, it was a loss on our funding to AIG.

Sounds like stories people tell of going to Vegas "I hit a slot machine for $500.00" Then you ask them how much did you will/lose overall.....

so I guess my cut is in the mail???

and this only does one thing

it gives barney frank another way to get reelected by helping to crash parts of the financial system and then blame it on republicans.....

1.1 billion of 10 billion - nice start, but keep it coming. not quite there yet. that's like people saying they "own" their home when a mortgage company holds a lien for 90% of the value.

It's a start.

1-4 TRANSLATION: waaaahhhhh!!!!

What a phoney fucking headline.

Most likely $3-5 billion worth of warrants for $1.1 Billion in cash.

Goldman-Sachs has engorged or passed through something between $14-40 billion. While wearing the "National Treasury" hat Paulson did all this to keep his company solvent.

Because of the secrecy at the Fed and Treasury it is impossible to put a hard number on any of this. But everything we know shows a pattern of corrupt backdoor deals designed to puff up Corporate balance sheets and bonuses for those guilty of wanton fraud.

Bottom line: GS paid back the 10 bil they borrowed and bought the warrants back for 1.1 bil which if the article is to be believed was pretty close to market value.

A better outcome than was expected.

Is GS in league with Satan? Yes.

But hey we gotta take heart in small victories.

What a phoney fucking headline.

Most likely $3-5 billion worth of warrants for $1.1 Billion in cash.

Goldman-Sachs has engorged or passed through something between $14-40 billion. While wearing the "National Treasury" hat Paulson did all this to keep his company solvent.

Because of the secrecy at the Fed and Treasury it is impossible to put a hard number on any of this. But everything we know shows a pattern of corrupt backdoor deals designed to puff up Corporate balance sheets and bonuses for those guilty of wanton fraud.

------------

Pigs at the trough.

Where's my check, then? What about being paid a premium for assuming the risk no other banks would assume? Oh, that premium went to our Fuhrer's re-election fund and to global warming research? Oh, I get it now.....Change we can believe in....

"1.1 billion of 10 billion - nice start, but keep it coming"

Read the article Special EDB....it says they already paid back the $10B.

Where's my check, then?

#10 | Posted by jonryker

It ain't the end of the month yet. If you're broke, you'll just have to go down to the dockyards again and "welcum" some maldivian sailor to America.

Does it occur to anyone here that Goldmann-Sachs has been protected, preserved, and rewarded for ruining the economy and putting people out of work, and we're looking at this as a success? Success would have been them going out of business and some of them jailed....we just put them in charge of all this, and this is success? Oi veh!

Does it occur to anyone here that Goldmann-Sachs has been protected, preserved, and rewarded for ruining the economy and putting people out of work, and we're looking at this as a success

Jon-its as bad as the fact the taxpayers are forced to pay his pension and guard his ass after he ruined the economy and put people out of work, not to mention lost two wars and let 9-11 happen. Drudgies here think he was praiseworthy for all that.

Then again, since the GS bailout was Dubya's last great idea, what you gonna do?

That Goldman Sachs SECRET SAUCE program sure does rake in the dough.

The taxpayer tab for AIG, taken over by a Goldman-Sachs Executive Liddy for $1/year (I wonder why) is $184 billion, with no clear end in sight.

Dennis Kucinich railed on Liddy for making European and US multinationals whole in select bailout payouts (dollar for dollar) while fleecing $96 million from Ohio teachers, firemen and policemen's Pension Funds (zero dollar for one). Liddy offers that he doesn't know anything about it and will get back to Kucincich. Kucincich reminds him that's the same shit he already said in March and he's not going to let him get away with it.

As shawn(or somebody here) said.....I smell bonuses!