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To: Steve Lokness who wrote (110810)	4/20/2010 11:28:04 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 116555

A German bank that was bailed out with German taxpayers money - see my previous post of syphoning tax revenue from the German Treasury to Paulson & CO and GS pockets and the US Treasury ON the subject - a missive article which proves how all is so wrong in our society nytimes.com Pension funds and insurance companies lost billions of dollars on securities that they believed were solid investments, according to former Goldman employees with direct knowledge of the deals who asked not to be identified because they have confidentiality agreements with the firm. Goldman was not the only firm that peddled these complex securities — known as synthetic collateralized debt obligations, or C.D.O.’s — and then made financial bets against them, called selling short in Wall Street parlance. Others that created similar securities and then bet they would fail, according to Wall Street traders, include Deutsche Bank and Morgan Stanley, as well as smaller firms like Tricadia Inc., an investment company whose parent firm was overseen by Lewis A. Sachs, who this year became a special counselor to Treasury Secretary Timothy F. Geithner.