Thursday, June 10, 2010

Paulson, Geithner: Fraudsters

Many of you were shocked!! SHOCKED!! at that headline, right?

OK. Wrong.

But here's the smoke:

The two failed to disclose to the public that the AIG problem was even worse than reported. They described AIG’s problems as a “cash squeeze” when it was in fact a full blown bailout of AIG. WHat was supposedly a loan to a distressed company in fact was a bailout of dubious legality.

Had the reality of the situation been properly disclosed, the $185 billion rescue might not have been made. Hence, the fraud.

Just by co-INcidence, $90Bn of the $185Bn fraudulently-obtained taxpayer money went to Goldman Sachs, where Paulson was CEO until 2006.

Rope.....check. Pitchforks..........check. Ammo, too!!

HT: Barry

1 comment:

St. Jimbob of the Apokalypse said...

I don't think these guys will be satisfied until we're waiting in line for bread with a wheelbarrow full of worthless greenbacks.