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Dylan Ratigan: Goldman Sachs magic trick - ...more Obama Change!:)
YouTube ^ | Oct 16 2009 | Dylan Ratigan:

Posted on 10/18/2009 6:14:01 PM PDT by restornu

Dylan Ratigan: Goldman Sachs magic trick - 10/16/09

How did Goldman, Sachs & Co. -- saved a year ago by the US taxpayer -- magically make $3 billion in 3 months a year later?

This as the US dollar collapses, unemployment soars and foreclosures hit a record?

Here is the Goldman, Sachs & Co. revenue break down for the past 3 months:

Financial Advisory-M/A: 325 million. Equity Underwriting: 363 million. Debt Underwriting: 211 million. Trading-Principal Investments: 10 billion.

Notice that 10 billion is much bigger than two or three hundred million made from the traditional Wall Street businesses.

That $10 billion is evidence of their magic trick. For we the taxpayer gave Goldman Sachs the following:

10 Billion in TARP 11 Billion from the Fed 30 Billion from the FDIC 13 Billion from AIG

For a grand total of almost $70 Billion (Goldman along with every other bank and AIG would have been defunct without this money).

Goldman at the apex of the crisis is delivered this money -- which they then use to borrow against at $20 or $30 for every $1. Which at 30x equals $2.1 trillion in available capital.

As one of the only banks in the world with money at the time, Goldman Sachs was able to buy billions in distressed assets around the world at record low prices -- only to watch $23.7 trillion in US taxpayer money be deployed during the past year to re-inflate the asset's values that Goldman had purchased with our tax money.

The question is not why did we bail out the banks.

The question is why did we give the banks billions of our money so they could then buy assets by the trillions with our money and they keep the profits?

The answer is Henry Paulson, former Goldman Sachs CEO who ran the US Treasury, and Tim Geithner, current Treasury Secretary who at the time ran the New York Federal Reserve, willingly delivered Goldman Sachs the $70 Billion -- with no strings attached.

So what can we do?

We must demand the return of those investment gains made with America's money - it was stolen from us and we can get it back. Demand Claw Backs - and not from the future but from the past - That is where our money is.

We must have an exchange for all credit derivatives -- the current version is riddled with loopholes that let banks avoid transparency by mobbing offshore and prohibiting government regulators from being able to force the use of the exchange by the banks.

So how do you do it?

Heed the Call!!!! Click Here

Read more at:Huffington


TOPICS: Business/Economy; Government
KEYWORDS: goldmansach; ratigan; ratugan
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To: Toddsterpatriot

Did you watch the Video?

Dylan Ratigan: Goldman Sachs magic trick - 10/16/09
http://www.youtube.com/watch?v=D-4wpoBIYjU


21 posted on 10/18/2009 10:37:16 PM PDT by restornu (A humble people of the Lord is stronger than the all wicked warriors of the World)
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To: restornu
No I didn't.

Did it say they borrowed $70 billion instead of $10 billion?

Did it say they didn't repay the loan?

22 posted on 10/19/2009 6:03:52 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: restornu; 1rudeboy
OMG! That was funny.

If you're going to listen to an idiot liberal, you might as well listen to Alan Grayson

Should I list a few of his errors? He says they received money from the taxpayer....$10 billion from the TARP (already repaid)....$11 billion from the Fed (that's not taxpayer money)....$30 billion from the FDIC (the FDIC doesn't loan money)....$13 billion from AIG (that's AIG money, not taxpayer money).

We gave Goldman $70 billion? I guess I can stop paying my mortgage, the bank gave me the money. Good old Dylan doesn't understand the difference between give and loan. He does sound a lot like that Grayson assclown.

Legalized theft? LOL!

Clawbacks? Maybe I should clawback my income tax? That's closer to theft than any loans Goldman had.

23 posted on 10/20/2009 2:14:47 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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