How Goldman Sachs & Merrill Lynch Created Garbage, Paid Themselves HUGE Bonuses & Treasury Covered It All Up

Janet Tavakoli on Goldman, Merrill, synthetic CDOs, and Treasury's cover-up.

• "Synthetic CDOs stuffed with nothing but hot air. Hot air paid their bonuses."

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More detail on this video:

• Tavakoli Wonders: Did Friedman, Paulson & Geithner Conspire To Hide Goldman's Role In The AIG Crisis?

From Janet earlier today:

Goldman Sachs Sued by German Bank Over an AIG CDO Bailed Out by Taxpayers (Updated)

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Comments

[DailyBail]

Janet Tavakoli: "Goldman Is Guilty Of Accounting Fraud"

http://dailybail.com/home/janet-tavakoli-goldman-is-guilty-of-accounting-fraud-must-se.html

[DailyBail]

http://www.networkworld.com/news/2010/100610-tech-ceos-tell-us-govt.html?source=patrick.net#article_title

Tech CEOs tell US gov't how to cut $1 trillion from deficit

[DailyBail]

The Freddie and Fannie Scam

http://greatdepression2006.blogspot.com/2010/10/freddie-and-fannie-scam.html

[DailyBail]

Quantitative easing, once again, won’t create economic growth. It will just reprice assets. In the Keynesian model, it is supposed to drive money out of safe-haven refuges (which have a negative real return) and into brick-and-mortar and, presumably job creation. What it does, in fact, is turn gold into a safe haven, and force an increase in the savings rate! That’s because prospective pensioners who thought they could retire with a 7% annuity are looking at a 4% annuity instead. They simply have to save more, and that’s bad for consumption. The cost of money isn’t the main obstacle to job creation. Obamacare and associated regulatory burdens are the big problem.

http://blog.atimes.net/?p=1586