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To: dirtboy
People who own them money paying them those debts as contracted is not "stealing". Welshing on a debt and walking away from it is stealing. There is no right to be a deadbeat enshrined in the constitution, populists to the contrary notwithstanding. Meanwhile, back in reality, Goldman pays $6 billion a year in corporate income tax. Every year. Its employees pay several times that in personal income taxes. Everyone else in the entire economy is free-riding off productive financiers, not the reverse.
37 posted on 07/20/2009 3:11:44 PM PDT by JasonC
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To: JasonC
People who own them money paying them those debts as contracted is not "stealing".

Once again, the former chair of GS arranged the AIG bailout. That netted $13 billion in taxpayer funds to GS. The federal government assurances to cover the CDS obligations by AIG did not exist at the time GS purchased such. This was not Congress making the FDIC whole to meet obligations to depositors at the time the deposits were made. GS used CDSs to increase their leverage without making sure AIG could cover them. In other words, GS made a ton of money without doing their homework to properly cover the risk, but then had their sugar daddy in Treasury cover their butts when that went south. As the saying, privatizing profits and publicizing losses. That is not capitalism, that is fascism.

For you to even TRY to rationalize such as anything but theft from the taxpayer at the point of goverment power confirms my opinion of you as a craven apologist for all the carnage these pinheads wrought upon the economy and the taxpayers.

41 posted on 07/20/2009 3:17:17 PM PDT by dirtboy
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