GOLDMAN’S SACHING OF AMERICA

[Baitman]

GOLDMAN’S SACHING OF AMERICA

Receiving taxpayer dollars from the US Treasury for their private benefit is not new to Goldman Sachs. In 1990s, when the Mexican government defaulted on its bonds, investors at Goldman Sachs’ stood to lose billions of dollars. They didn’t.

Buried deep in the subsequent $40 billion US bailout of Mexico was a $4 billion payment to Goldman Sachs, gratis of the US Treasury indemnifying Goldman Sachs against any losses on their investment in Mexican bonds.

The fact that current US Treasury Secretary and former Goldman Sachs CEO Henry Paulson also recently used US funds to underwrite JP Morgan Chase’s private buyout of investment bank Bear Stearns and is now proposing to do the same with Fannie Mae and Freddie Mac is to be expected. For investment bankers, using public money to privately profit is business as usual.

They're ruining what has been one of the greatest economies in the world, [Bernanke and Paulson] are bailing out their friends on Wall Street but there are 300 million Americans that are going to have to pay for this. Jim Rogers, Chairman of Rogers Holdings, July 14, 2008



Why is the government using your tax dollars to bail out their friends

Wish I could get a bail out too

[REP0MAN]

I don't mean to sound condescending, but....

GOLDMAN’S SACHING OF AMERICA

Why is the government using our tax dollars to bail out their friends

Baitman
Copper Member
Reg: Jul 2008
Location: BC - Canada
Posts: 227
Online Online

Does the US Government control Canada's economy and tax allocations too?

[Baitman]

Goldman Sach controls Canada's Central Bank too. The Bank of Canada.

[Shamus]

Why is the government using our tax dollars to bail out their friends

Bailing out the folks that were stupid enough to buy the worthless paper is good policy.

Bailing out the folks that were stupid enough to create the worthless paper by over extending themselves is not good policy.

shamus

[REP0MAN]

What? Where did that come from?

My question was based on your calling US funds "Your tax dollars". Last I knew, the US and Canada didn't share a tax base.

[Baitman]

What? Where did that come from?

My question was based on your calling US funds "Your tax dollars". Last I knew, the US and Canada didn't share a tax base.

I do own a bussiness in Nevada

[SOB]

Typically when you quote someone else's work, it's considered good form to cite the source.

[Baitman]

Here a Link http://www.financialsense.com/fsu/editorials/schoon/2008/0716.html

[Pei]

Bailing out the folks that were stupid enough to buy the worthless paper is good policy.

Bailing out the folks that were stupid enough to create the worthless paper by over extending themselves is not good policy.

shamus

Unfortunately the alternative now is a run on the banks and economic crisis that would make the Great Depression look like a mild hangover.  If you don't want to bail out provate enterprise you need to ensure that private enterprise does not create a financial meltdown that effectss all of us, or in other words we need to also blame the regulatory bodies and governments that should have been overseeing the economy and preventing it from happening.