Thursday, October 30, 2008

Throwing Good Money After Bad to Help Goldman Sachs

After a $123 billion bailout, will AIG collapse anyway. Read The New York Times, A Question for A.I.G.: Where Did the Cash Go? The article states that "tens of billions of dollars [from the bailout was used] to post collateral with other financial institutions, as required by A.I.G.’s many derivatives contracts." Goldman Sachs was one of those financial institutions. Wasn't Treasury Secretary Henry M. Paulson Jr. the former CEO of Goldman Sachs.

Me thinks that something smells fishy here.

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