Tuesday, November 25, 2008

Yves Smith on AIG-2

I read the WSJ article Yves Smith (YS) mentioned in her 12 November 2008 Naked Capitalism post, "Goldman big winner in government's revised bailout of AIG", link: http://www.nakedcapitalism.com/2008/11/goldman-big-winner-in-governments.html. YS hit the "high" points of the article, hitting the "money" quote, "Yves here. Note the clearly slanted choice of words, 'pry collateral'. Huh?" My only quibble with YS's comments is: she is too kind; writing, "Both roads lead to Goldman". I say GSG is the new Rome, "All roads lead to Goldman. Goldman is under every rock".


Printfaster said...

I have long contended that ever since Rubin and the Goldman bandits took over, the treasury has been hostage to the Goldman traders. Without GS, the market for treasuries would largely dry up. The marketing of treasuries is a multibillion dollar profit business for GS, and GS has managed to lock itself to treasury.

Part of the 90s operation was GS and the treasury strong arming central banks into dishoarding gold, and keeping the dollar strong to manage the market for treasuries. They made Ts the only alternative to gold.

Bush may have tried to break from GS with his appointment of O'Neill, but that was short lived as GS sent over Paulson to manage the relationship. Obama is not about to break the link to GS.

Until GS is bankrupt, there will be no financial recovery for US industry or agriculture. All funds will be diverted to lower Manhattan.

Anonymous said...

Poor Obama...wake-up!

GS says... {from the Godfather}

"A lawyer with his briefcase can steal more than a hundred men with guns."

+ + +

Yves should try a sultry tone now and then... just to break it up...