3 ms·
You should read some of the actual accounts of how/why GS took the tarp funds. Paulson basically told them to take it, or the government would suck up all of th
by dmillar 16y ago
You should read some of the actual accounts of how/why GS took the tarp funds. Paulson basically told them to take it, or the government would suck up all of their oxygen.
- wdewind 16y agoPlease share them, I'd love to.
- ZachPruckowski 16y agoGoldman received aid from the taxpayer through the AIG bailout. AIG was responsible for the insurance and CDSes that covered any bad assets at Goldman. Had AIG gone under, Goldman would not have gotten paid for those CDSes that were on derivatives of bad mortgages, and would have had a few billion in losses in 2008-2009. Maybe not lethal damage, but it's on the back of the taxpayer that Goldman has been profitable these last 2 years.
- ericd 16y agoGotta second this. I know more than a couple people at Goldman, and they weren't happy about being made to take the funds, and were especially unhappy that they've been vilified for it, when they didn't want it. It's kind of annoying reading all the uninformed mob anger directed at them. The media has made them into a scapegoat out of them in particular, and for some reason, everyone is following along.