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To: dirtboy
GS did not bring us the financial meltdown in the first place. Your pretending they did is purely a matter of your class hatred of bankers, which you expect everyone else to share as a matter of course, without argument. Goldman didn't need to do anything different in its trading with AIG. It made $13 billion of that trading, risking nothing unless it had been wrong about the future value of low quality mortgage backed securities, which they weren't. If AIG had failed messy then Goldman would have made marginally less off those trades, after AIG was dismembered and the pieces sold to satisfy it along with other creditors. This would not have involved Goldman losing anything, merely making marginally less off being right about the mortgage bonds it bet against. There was and is nothing reckless in the entire piece, on their part, and nothing they had to do differently.
79 posted on 07/22/2009 1:29:17 PM PDT by JasonC
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To: JasonC
GS did not bring us the financial meltdown in the first place.

Uh, yes, they played their own role in overleveraging the financial markets.

81 posted on 07/22/2009 1:30:06 PM PDT by dirtboy
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