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more about #bailout more comments → davidkmin: The credit rating agencies obviously were a huge problem in this disaster, but blaming them, alone, for AIG is pretty asinine. There were a whole num... more » ShinjukuAce: Is there any reason these people are not in jail? Knowingly giving false ratings to securities should be treated as criminal fraud. #aig more » If_I_Had_a_Poodle: "it could be structured by cows and we would rate it" That should be the title of the history of the crisis #aig more » Uncle_Billy_Slumming: "Because the credit rating agencies had a gun to his head. Suuuuure they did. Like Robin Williams holding himself hostage. #aig more » Satyrica: The credit agencies screwed up, but the real blame still lies with the fact that the government destroyed all incentives for them to operate honestly ... more » Unsolicited Advice: What you're watching the "extraordinary support" doctrine, which used to apply to all of the GSE's and now applies to every investment bank. [www.eco... more » meechybee: The only good that can come out of this mess is the death of the "kill Social Security and let Wall Street run it" movement. Then again, (collective) ... more » nowimpissed: I don't understand the proposed solution that the government could have given Goldman Sachs a haircut on their insurance without giving the troubled b... more » Novaload: Geithner (and Summers) will go down as two huge Obama mistakes. The favoritism, the secrecy, the cozy Wall St. relationship---just disgusting. #goldma... more » lackadaisical: Have we all forgotten the fact that Goldman has already repaid the gov't money - that they never wanted - plus interest? If Goldman were losing money... more » Crucifictorius: Dark pools are a bit overhyped thanks to a terrible name. The only real problem with them is that they run counter to the ECMH. If you can trade aga... more » friend_of_a_friend: One of his goals was to persuade the banks to accept discounts of as much as 40 cents on the dollar... That means they wanted to pay 60 cents on the ... more » Unsolicited Advice: Dark pools were established so institutional and UHNW clients could set market orders to transact extremely large amounts of shares without disclosing... more » DahlELama: Sorry, can't help you--the only guy I know at Goldman is currently on a beautiful cross-country trip in the Middle East... Oh, wait. #goldmansachs more » Swifter: Never trust the government. It's full of liars who want to flush your hard earned money. This is the truest sentence that has ever appeared on this w... more » -
#goldmanproject
How the Credit Rating Agencies Engineered the Goldman Sachs Bailout
Last year's financial collapse was made possible by the greed and incompetence of credit rating agencies, who got paid to lie about the value of subprime debt. It turns out they were responsible for the Goldman Sachs bailout, too. More » -
#goldmanproject
AIG Only Wanted to Give Goldman Sachs
Thanks to Bloomberg News, we now have a good idea how much of that $13 billion pass-through bailout Goldman Sachs got from AIG last year was pure taxpayer-financed gravy: $5.2 billion, courtesy Tim Geithner. More »4060 Cents on the Dollar, Then Geithner Stepped In -
#moneymatters
Govt's Phony Optimism Doomed Us All!
Wait a second! The government last year told us we needed to bail out banks and then, after we did, insisted the nation had done the right thing. But that was just a lie and did more harm than good. More » -
#moneymatters
Fed Nets $14 Billion on Bailout
Maybe Ben Bernanke really did know what he was doing, because the Federal Reserve has raked in an estimated $14 billion from fees and interests stemming from the bailout. But, never fear, there could still be bigger, uncounted losses. [FT] -
#takedowns
Steven Rattner Is Basically an Asshole
Steven Rattner is the social-climbing financier who resigned as auto czar because his private equity firm is embroiled in a pay-to-play scandal. Everyone's waiting for shoes to drop, but New York says Rattner's biggest problem is that nobody likes him. More » -
#softbigotryofhighexpectations
Everyone Privately Loved Neel Kashkari, Neel Kashkari Claims
Last year, the Bush Treasury Department assigned a 35-year-old nobody named Neel Kashkari to oversee the multi-billion dollar bailout of the financial sector. He sucked and everyone hated him. Except in private! More » -
#bailout
Andrew Cuomo Wimps Out on AIG Names
New York Attorney General Andrew Cuomo has a secret! AIG has given him a list of employees who received controversial bonuses after the insurer's continued bailouts — but he won't name names. More » -
#brits
British Con Men Exempt From AIG Tax
The House just passed a bill to return most of the ill-gotten AIG bonus money to taxpayers. But the most guilty villains are in London, immune from our silly laws, laughing at us. More » -
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#populism
Obama Now Faces Terrifying Threat of 'Populism'
Confused, misdirected populist rage threatens Obama from all sides! And there's really nothing he can do! Well, there's one thing he could do.
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#congress
Yelling At Bankers: The Movie
Congress lived the dream today, just straight-up yelling at some bankers. Watch and enjoy the shaming and grandstanding! More » -
#classwar
The $37 Million Park Ave. Apartment Your Bailout Bought
Where is the government's bank-bailout money going? In part to pay for Wall Street banker Peter Kraus's $37 million Park Avenue spread.
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#thepanicof08
Warren Buffett on AIG's $150 Billion Bailout: Ha-Ha, Told You So
Isn't socialism fun? The government now owns four-fifths of AIG, the insurance giant whose foray into complex financial contracts required a $150 billion bailout. And we may be stuck with it for years! -
#andrewkeen
Poor people don't deserve broadband, says Internet-hating madman
Imagine Father Coughlin, the hateful radio demagogue of the 1930s, spewing vitriol on YouTube. That's why poor people can't be trusted with the Internet, says Andrew Keen, author of The Cult of the Amateur.
