Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
"US treasury secretary Timothy Geithner who, as his payment of $13 billion from government-owned AIG to Goldman Sachs showed, believes that bankers take priority over taxpayers. "

It's also interesting to note that the numbers are wrong (most of that 13B was previously posted collateral from AIG, Maiden Lane payments were $5.6B), oddly chosen since SG got significantly more and it's funny to have GS picked out in the context of another bailout of European/UK banks, and, of course, the uncomfortable fact that Maiden Lane III net balance is going to cover outstanding balance, validating the widely sneered at claim that FRB was responding to a liquidity crisis not an insolvency crisis.


How could anyone give any of that article any credence at all?

by rootless2 on Mon May 9th, 2011 at 04:40:39 PM EST
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