Posted on 03/30/2009 12:06:19 AM PDT by Jim Robinson
One of the most contentious issues in the government's bailouts of Wall Street has been whether Goldman Sachs got any special treatment because former treasury Secretary Hank Paulson was the firm's former CEO. And the government is permeated with Goldman Sachs veteran. Even Geithner's own right hand man is a former Goldman lobbyist. The company benefited enormously from so-called "counterparty" payouts from AIG, which the company was only able to make after an infusion of taxpayer cash. The government has defended that move, saying theAIG bailout was necessary because of systemic risk if the counterparties should fail. But recently Goldman Sachs executives have signaled that the would not have been at risk if AIG couldn't pay up, because they'd hedged their bets in other ways.
So Stephanopoulos asked Geithner if Goldman Sachs should return its money. In a response that will likely infuriate those who believe Goldman is getting special favors, Geithner dodged the question. "Return the money?" Geithner repeated after Stephanopoulos' question.
Then he changed the subject, pointing out that the "important thing now" is to give the government legal authority to wind don firms like AIG in the future -- authority he says Treasury did not have last fall, which hamstrung its response.
(Excerpt) Read more at politico.com ...
Not surprised, not surprised at all.
Geithner also boldly stated, “There will be no hyperinflation”, when asked about the possibility.
His reasoning?
We have the Fed and the Fed can solve that problem without a problem.
Problem? No Problem.
Orwellian Democrat Doublespeak.
They don’t call it, “Government Sachs,” for nothing.
I hope that someday all of these crooks are wholly exposed. I posted an article a little while ago that goes along with this.
Can you translate this? Is it really profound or BS?
Just read that one. The best overall article I have ever read on this mess. They just leave out the Fannie, Freddie stuff.
Of course he does. Goldman is one of their money laundering buddies sending the money to Soros and his buddies.
This is rich, now the Lefty Stooges find there elite heroes are crony capitalist liars...note thet the usual infestation of low IQ Obot posters have not appeared @ Politico with their 1/2 azzed comments yet, they must wait for the Official Talking MEME. I’m starting to believe that electing the useless Obama may be the equivalent of the Russia sub torpoedoing itself in Red October....LMAO!
I’m starting to believe that this ongoing incestuous relationship between our financial sector and the federal government is a bigger problem than let on. This goes well beyond political parties. The implications of the revolving door policy of employment between Wall St. and Washington have to be looked at in relation to the financial crisis we’re experiencing.
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