Interview aired Friday night on Mad Money.
Taxpayers might again ask why the Federal Reserve was so eager to bail out all of AIG's deals (credit default swaps) linked to problematic CDOs at 100 cents on the dollar. The largest beneficiary of that largesse was Goldman Sachs, whose former officers rose to influential positions in the U.S. Treasury and Federal Reserve Bank and were at Goldman's helm when these deals were created.
The taxpayer funded bailout of AIG helped Goldman Sachs to avoid potential lawsuits, among other lucrative benefits. See Goldman Sachs: Bullies on the Block.
Maria Bartiromo with Benmosche on AIG earnings for Q3 - Nov. 1, 2012
Here's something that was barely covered at the time and has since been completely forgotten. Goldman execs lied under oath regarding AIG:
- BOMBSHELL REPORT: Goldman Sachs Got Billions From Taxpayers Thru AIG For Its OWN Account, Crisis Panel Finds; Contradicting SWORN Testimony From Execs
- How Paulson Appointees & Former GS Employees Dan Jester & Ed Liddy Colluded To Destroy AIG And Secure A Secret Bailout For Goldman Sachs
Selected AIG stories from the archives: