Thomas Adams has a 29 November 2009 post at Naked Capitalism about AIG, Goldman Sachs, Citigroup, the monolines and our Treasury. I have said similar things for over a year. Here's a link: http://www.nakedcapitalism.com/2009/11/cant-get-enough-goldmans-profit-is-citis-pain.html.
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Well what is Hank Paulson going to say in his biography?
"Errrr.... we didn't know nuthin then Lloyd called me and said that all those trades I put on with AIG back when I was Chairman of GS were blowing up!!!
And they were going to bring down Goldman and my $700 million worth of Goldman stock...
Well... HOLY CRAP... how fast can you say BAILOUT!
I called up Bernanke over at the Fed and said we need about $50 billion... oh make it a $100 billion... he gets all prissy and moves it back to $85 billion... can you believe him fussing over a few billion while Goldman is going down? I told him Lloyd wouldn't like that and he straightened up real quick...
Bond insurers? Who cares... We never used the bond insurers at Goldman... those guys were too picky and wouldn't accept our demands for triggers and posting collateral...
No AIG was our sweet baby... till they started fighting over haircuts..."
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