Goldman Sachs Will Explain Its Relationship WIth AIG TomorrowIn hopes of clearing the air over the money its received via the AIG (AIG) bailout, Goldman Sachs (GS) plans to hold a conference call with media and investors tomorrow. The company says it wants to eliminate certain "misperceptions."
Joe Weisenthal Mar. 19, 2009, 4:11 PM
The narrative that's been written in the media is that the company was a major beneficiary of the bailout. And that since the company's ex-CEO Hank Paulson was Treasury Secretary was an engineer of the bailout, people see cronyism.
For its part, Goldman Sachs has repeatedly claimed that it had fully hedged its exposure to AIG, though it hasn't gone into more detail.
Such gall to call it hedging when subsidiary servicers were operating under their direction to to fabricate non-existent defaults so GS could collect this 13 billion in credit default swap profit? Goldman should choke on this 13 billion and the rest of the money it made stealing peoples' homes!