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Strategies & Market Trends : Value Investing
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To: blastedwand who wrote (37186)3/31/2010 2:35:10 PM
From: Madharry1 Recommendation  Read Replies (2) of 78673
 
welcome. i finally saw the 60 minutes piece and got to see what Mike looks like. Got angry again at the stupidity and incompetence of so many. I made a point of spending several hours listening to Geithner and Paulson defend their bailout of AIG, or should I say Goldman Sucks via AIG and as far as i m concerned they were not convincing at all except to say that the aig's insurance subsidiaries were intertwined with the london branch that provided the credit default insurance. The new york commisioner of insurance who audited the insurance subsidiaries has gone on record many times stating that the insurance subsidiaries were sound. Someone is either mistaken or not telling the truth and I dont know understand why congress has not gotten to the bottom of this. The amazing thing that i did not realize before seeing the 60 minutes piece is that Goldman Sachs were instrumental in helping aig to set up the insurance on default swap product and then purchased the product themselves. How many conflicts of interest can there possibly be here? Its a joke, here the governor of new york gets investigate for getting ticket to a world series game. probably more attention is paid to that then the theft of $150 billion of taxpayer money. Its scares me that anyone with Geithner's track record is employed by the government in any capacity let alone as treasury secretary.
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