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« Blankfein Reaps $19 Million As Bonuses Return To Goldman | Main | Lobby For War, Profit From War, Lather Rinse Repeat »
Wednesday
Apr202011

Dylan Ratigan Exposes The Stealth Goldman Sachs Bailout: "Robbing And Thieving The American Sucker - Once Again"

This is one of the best clips from Ratigan we've posted.  We are republishing it in honor of Goldman's taxpayer-supported quarterly profits reported today.

Full breakdown of all Goldman bailouts is included.

--

Video - Dylan Ratigan on Goldman's Swindle

  • "Through magic, we will show how a single investment bank can make more than $3 billion in cash in 3 months time and create absolutely NO VALUE as unemployment skyrockets, foreclosures soar and the dollar collapses."

The short answer is they used $70 billion from taxpayers to acquire assets on the cheap during the crisis last fall when very few others had access to capital and the deals were hot, and now the asset prices have recovered in value:

  • "Goldman Sachs is getting rich on the back of the American taxpayer."
  • The question is not why did we bail out the banks.  The question is why did we give the banks billions of our money so they could then buy assets by the trillions with our money and they keep the profits?

The answer is Henry Paulson, former Goldman Sachs CEO who ran the US Treasury, and Tim Geithner, current Treasury Secretary who at the time ran the New York Federal Reserve, willingly delivered Goldman Sachs the $70 Billion --with no strings attached.

So what can we do?

  1. We must demand the return of those investment gains made with America's money - it was stolen from us and we can get it back. Demand Claw Backs - and not from the future but from the past - That is where our money is.
  2. We must have an exchange for all credit derivatives -- the current version is riddled with loopholes that let banks avoid transparency by mobbing offshore and prohibiting government regulators from being able to force the use of the exchange by the banks.

The Goldman Sachs bailout breaks down as follows:

  • $10 billion from TARP
  • $11 billion from the Federal Reserve
  • $30 billion from the FDIC
  • $13 billion from AIG

 

 

 

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Reader Comments (7)

Another Goldman executive named to key government post as its profits skyrocket

http://www.salon.com/news/opinion/glenn_greenwald/2009/10/16/goldman/index.html
Apr 19, 2011 at 7:46 PM | Registered CommenterDailyBail
US has flown 800 Libya sorties since NATO takeover

http://www.activistpost.com/2011/04/us-has-flown-800-libya-sorties-since.html
Apr 19, 2011 at 7:48 PM | Registered CommenterDailyBail
TSA Agent In Londonderry, NH Arrested For Rape, Sexual Assault

http://revolutionarypolitics.com/?p=5343
Apr 19, 2011 at 7:49 PM | Registered CommenterDailyBail
Just How Many Muni Defaults Are There?

http://www.cnbc.com/id/42663756
Apr 19, 2011 at 10:15 PM | Unregistered CommenterLiberatedCitizen
Disgusting.
Apr 21, 2011 at 1:37 AM | Unregistered CommenterBB
"OK".............So now what do we do..........? All of "Obama", Bush, Clintion, Bush, friends will neaver be charged with a thing. This is nothing new here.

Its just now the country is broke, and the money is now comming from the bottom of the barrel, not of the top anymore........! So we see whats going on today.

But once Again, untill we have a Judge that will put a stop to this "Madness", were just Screw'ed..........? Oh, this Judge should not have a Spose, or Children, "Wink-Wink" !
Apr 21, 2011 at 3:21 PM | Unregistered CommenterTexas Dar

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