Posted on 01/31/2010 3:23:33 PM PST by blam
AIG Bailout: How American Taxpayers Saved European Banks
by: Prieur du Plessis
January 28, 2010
While the AIG (AIG) controversy rages and the enquiry into the bailout gathers momentum, Professor Linus Wilson of the University of Louisiana (via Clusterstock) has put together a helpful chart showing exactly how the bailout was constructed and indicating which banks got how much.
Two things stand out: The Treasurys overpayment for preferred stock was a crucial part of the bailout, and though Goldman Sachs (GS) is usually held up as the bad guy here, SocGen (SCGLY.PK) received $2.5 billion more,
remarked Clusterstock.
Fascinating stuff, especially with American taxpayers coming to the rescue of the European banks!
Source: Clusterstock, January 27, 2010.
UBS’s Robert Wolf: Obama’s Lead Blocker on Wall Street
http://www.freerepublic.com/focus/f-news/2436179/posts
Lloyd Blankfein, CEO Goldman Sachs, made $42.9 million in compensation in 2008, soon after Goldman Sachs, received $10 Billion in Tarp funds. Goldman Sachs has also spent over $31,437,825 in political lobbying.
While we were still innocent, didnt we all wonder why Obama would insist on placing Geithner, who was tarnished for not paying taxes, as the Head of the US Treasury?
http://www.thenewamerican.com/usnews/election/697
Turns out Geithner is not so innocent. As a matter of fact his associations are a complete conflict of interest as Treasury Secretary. He is exactly what the Fat Cats would want, and got.
http://news.muckety.com/2008/06/01/ny-feds-timothy-geithner-has-high-powered-group-of-mentors/3112/
The media is focused on the bailout and bonuses of a failed company with over $160 Billion of US tax dollars. The real problems is that our tax dollars are being funneled into Swiss banks and politicians pockets.
http://www.economicpopulist.org/files/AIGCounterparties150309.pdf
For example, AIG funneled over $62 Billion of that Tarp money, to foreign companies which were not eligible. Such as the tax cheat and money laundering UBS, managed by Soros pal, Robert Wolf (from the 2007 Soros luncheon).
http://www.cubanet.org/CNews/y05/oct05/10e13.htm
In 2009, these Swiss Banks who received the Tarp money intended for AIG, were fined for funneling money, with falsified documentation, from sponsors of terrorism such as Libya, Iran, and Cuba.
http://www.nytimes.com/2009/12/16/business/16bank.html
Investigators found that Credit Suisses employees violated both state and federal laws by falsifying outgoing dollar payment messages that involved Iran. The banks employees removed reference to Iran or its banks, a practice called stripping.
Also to benefit was French bank Societe Generale, which was implicated with Soros in 2002, when Soros was convicted of insider trading. The payments are in dispute, along with the cover up.
http://washingtonindependent.com/73860/fed-asked-tarp-inspectors-to-withhold-aig-documents-from-congress
http://www.dailyfinance.com/story/investing/federal-reserve-trying-to-preserve-its-bailout-secrets/19311582
There is still little mention of Tarp funds that are being recycled back into politicians coffers, which is another little problem.
http://www.newsweek.com/id/190363
The media silence regarding our new Cleptocracy, is ominous.
Very odd that Schumer isn’t on that list, because he is on the Banking Committee.
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