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UNBELIEVABLE! Goldman Sach Would Have Lost Little If AIG Failed

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UNBELIEVABLE! Goldman Sach Would Have Lost Little If AIG Failed

Old 03-20-2009, 11:42 PM
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Default UNBELIEVABLE! Goldman Sach Would Have Lost Little If AIG Failed

Goldman Insists It Would Have Lost Little if A.I.G. Had Failed

Hoping to reduce a swirl of speculation over its role in the bailout of the American International Group, Goldman Sachs reiterated Friday that its direct losses would have been minimal if A.I.G. had failed. ...

Under intense pressure from lawmakers, A.I.G. recently released a list of counterparties, and Goldman was among the largest, accepting $12.9 billion of the insurer’s bailout money. ...

http://www.nytimes.com/2009/03/21/bu...l?ref=business


Color me 'stupid' but I'm thinking $12.9 billion is NOT "minimal" or "little" by anyone's standards!!!

I've been around for more decades than I will admit -- and never in my life have seen so much corruption, ineptitude, and liars ... This current administration is an absolute cesspool!!!
Old 03-21-2009, 04:49 AM
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Goldman for years gave every manager a 500K christmas bonus from what I have read and was not one or two folks it was several hundred managers.

So it is possible 12.9 Billion is not a lot of money in their eyes.

John
Old 03-21-2009, 05:20 AM
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Goldman Year Ended November 2008 2007 2006 10K all in millions except for assets under mgmt which is in billions:


Pre-tax earnings: $ 2,336 $ 17,604 $ 14,560

Assets under mgmt: 08/07/06 In billions $779, $868, $676

Net increase in cash & ce's for years ended Nov 30 08/07/06: $5,458 $4,339 $1,899

Total shareholders' equity @ Nov 30 08/07/06 $64,369 $42,800 $35,789

Total assets @ Nov 30 08/07: $884,547 $1,119,796

I would not say 12 billion is meaningless, but it is not alot in respect to the other aspects of the business; taking out 08, its about a year of earnings for them, but looking at their cashflow, it could be detrimental to them. I would conclude that they did not need the 12 b to survive, but they needed it to continue operating as they have been in the past. Interprit that how you will.

Eyeball, I wouldn't at all color you stupid, but I feel that if people are going to be so vocal and opinionated about the current financial situation, they really got to get up to speed and appreciate the magnitudes of the issues and what is at stake.

Most importantly, People also need to realize and appreciate that 1 billion is a thousand millions, but a trillion....that a million millions.

Last edited by chrisjb; 03-21-2009 at 05:33 AM.
Old 03-24-2009, 08:16 AM
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Goldman gets a free pass on everything from both sides of the aisle - dems and repubs. $12.9B? My @ss they wouldn't have gotten crushed.
Old 03-24-2009, 08:41 AM
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Where is Elliot Spitzer? Damn - that gal did him a big favor by taking him down before the real doo doo hit the fan. On the other hand - maybe we could use a guy like Elliot Spitzer again...............I am not in this business but somehow I tink he could have been a better Geitner

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