How corrupt is Goldman Sachs? Here is an example.

1. They put together a financial derivative product. It is just a bunch of financial things put together including mortgages, futures, etc. Let’s say that’s a car.

2. They sell the car to financial dealers who sell it to their clients.

3. Goldman now goes to AIG and says “let’s make a bet that the car will break down” .

4. AIG says great. I assume you will bet that the car will not break down since you put the car together.

5. Goldman says no, we want to bet that the car will break down.

6. AIG says wait a minute, why would we take that bet?

7. Goldman says because the AIG department that they are talking will make $600 million in bonuses from the deals.

8. The AIG guys says great, I want the bonus so I will take that bet.

9. Goldman already knows the car is going to break down because they built the car.

10. The car breaks down and Goldman wants their money from AIG.

11. AIG does not have the money to pay Goldman.

HERE’S WHERE THE TAXPAYERS COME INTO THE PICTURE

Geitner and Paulson (ex Goldman guys) convince congress to bail out AIG. AIG pays out the bets in full to Goldman. No negotiating, no discounting. Why did they do this? Selfishness and greed.

You see Geitner and Paulson have huge pensions with Goldman. If Goldman goes under because AIG can’t pay them, their multi million dollar pensions are gone.  It is in their best interest to not only make Goldman survive, but have them thrive.

JUST WHEN YOU THINK THESE LOW LIVES GET ANY LOWER…..

It has now been shown that Goldman took out bets against AIG being able to pay out the bets that AIG made with Goldman. So Goldman knew that AIG could not pay out the bets it made with itself. So if AIG goes down taking the US economy with it, Goldman does not care as it profits. In fact, I think they wanted AIG to go down as current e-mails found at AIG shows that Goldman was playing hardball with AIG and not willing to negotiate any settlements.

These guys have no morals at all.  They don’t care if we have 25% unemployment, just as long as they make their money.

If the public does nothing and let’s things like this go on, then we deserve everything we get.  We have clearly become sheep.

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