Goldman rewarding themselves record bonuses, yet taxpayers are covering their past losses, risky investments gone bad.
Who cares Goldman is paying back TARP, return taxpayers money that covered the $Billions in Goldman losses incurred investing in reckless, high risk ventures, insured by AIG.
Quite the ponzi scheme. Make highly lucrative investments, that are also highly speculative, fraught with risks, cover your ass by purchasing worthless AIG default swaps knowing taxpayers would be forced to come to the rescue courtesy of Goldman Alumni now in Govt.
Only in Corporate America is criminal behavior not only overlooked but rewarded. Sad day indeed.
Taxpayers deserve the bonuses not Goldman. The only purpose Goldman and alike serve is to manipulate the markets push commodity prices higher, the cost of living.
They profit while the people suffer. If their bad bets go bad Taxpayers cover, zero repercussions (AIG Ponzi Scheme).
Sad day for America indeed. These crooks have infilitrated every part of our govt, they control policy, we can't do a damn thing about it but open up our wallets and pay the very people who robbed us, destroyed our once great country.
Absolutely pathetic...Why should US Taxpayers be forced to cover AIGs credit default swaps?
And who are the direct beneficiaries of this ponzi scheme to the tune of 100s of $billions? Goldman and alike.
Goldman would not be solvent if not for the taxpayers. They have a lot nerve awarding themselves outrageous bonuses for manipulating the markets once again, pushing oil above $70 et cetera. Before anyone at Goldman sees a penny, pay the Taxpayers back for covering your previous bad bets.
It would be nice if the average Joe could go to Vegas and wager 40 times their life savings knowing they are backstopped by Goldman. Goldman covers all losses. I wonder how Goldman would react to that set up?
AIGs financial products division was a joke, their insurance (credit default swaps)a bigger joke. Not regulated, no collateral, no way of paying up if things went south. Their potential payout 3 times more than the total assets of the entire company.
Why the hell should Taxpayers being shoveling over $Billions to Goldman to cover for AIG? Sorry Goldman, you made very poor choices, took extreme risk...one of those relying on AIG to pay you back.
Unfortunately that is now how it works, especially with Goldman Alum firmly entrenched in our govt, policy making. Taxpayers get screwed, Goldman issues record bonuses.