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> Goldman Sachs knowingly sells junk to their clients, minimizing their own exposure to the financial crisis, and gets a bailout. GS never got a bailout. They
by daeken 14y ago
> Goldman Sachs knowingly sells junk to their clients, minimizing their own exposure to the financial crisis, and gets a bailout.
GS never got a bailout. They were paid by AIG using bailout money, for what they were owed, but never received a bailout by the US government at all.
- boboblong 14y agoHow is that any different?
- daeken 14y agoIf they were bailed out, that would mean the company was in a risky financial position and needed assistance from the government. What happened with GS was that AIG owed them money (legitimately), and AIG was bailed out. The reason AIG needed to be bailed out (in part) was that they owed a lot of money to a lot of people; when that went through, they paid their creditors. Claiming that GS was bailed out is like claiming that Microsoft was bailed out -- AIG gave them money after the bailout too, I'm sure.