What Would Happen if Goldman Went Under? (AOL Poll) | 8 comments (8 topical, 0 hidden)
where it came from (none / 0)
It ain't hard to make money when you are making all the rules as well as have unlimited leverage, not to mention changing them along the way. There are 650 trillion dollars left of unresolved bets, that were legalized under Goldman's proxies. Given that the world GDP is about 50 trillion how can they be profitable, or even allowed to still exist. There is no way to create that amount of money, nor back it.

Let me put it in to some perspective. Goldman Sachs burned a city to the ground in order to cook a few hot dogs over an open fire. That is a proportional representation of the risk reward to world for the depression error gambling that GS and a few other major players helped revive through billions in lobbying.


GS short sold Lehman, Behr Sterns and AIG into neverland, collecting on side bets all the way up and all the way down. The 14 billion paid out after we bought AIG was just a drop in the bucket. AIG sold 500 billion in cds market, and that was only  a fraction of their business,  yet the payouts from the bad bets wiped out the company to the point of needing 200 billion in tax payer dollars to stay afloat. Let alone Fed money.

Goldman Sachs was the architect of the disater, and the second biggest winner.


by sisco66 on 07/16/2009 10:18:10 PM EST

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What Would Happen if Goldman Went Under? (AOL Poll) | 8 comments (8 topical, 0 hidden)