Gulag Blog

Goldman News: Reasonable Doubt, Taking Away Homes & Gaining on CIT

Stacy Summary:   More forensic examination of Goldman Sachs’ role during the days that its former Chief Executive, Hank Paulson, was bailing out the financial players.  And for these neo-feudal times, here is the Daily Gulag from @adamc

• Goldman Sachs:  Reasonable Doubt (Janet Tavakoli)

Sophisticated counterparties like AIG are supposed to protect themselves, and have little chance for recovering damages.  But now the American taxpayer has stepped in to make payments for AIG. U.S. taxpayers have a right to recover money paid out for derivatives on deals that include phony collateral.

• Goldman takes on new role: taking away people’s homes

• CIT bankruptcy: US taxpayers lose billions, Goldman gains a billion

Tags: aig, cds, goldman sachs, hank paulson, lloyd blankfein

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