Friday, October 16, 2009

Goldman Sachs Rapes America

http://www.msnbc.msn.com/id/31510813/#33344267

Dylan Ratigan on MSNBC provides the following data in order to support his case for "clawbacks" for the government from the investment banks.

Goldman Sachs received the following from the US Government since October 2008:
$10 billion from TARP
$11 billion from Federal Reserve Bank
$30 billion from FDIC
$13 billion from AIG
--------------
$70 billion total received from US Government to Goldman.

Goldman used this money to purchase assets in the US at the bottom of the market.

Now those assets have inflated because of the huge injections of capital into the economy by the US Government.

Goldman reaps $10 billion in trading and principle investments from the inflation of assets purchased at the bottom of the market with US Government supplied funds.

CONCLUSION: The US Government should demand that $10 billion be handed over.

IMPLICATION: The financial crisis and the bank bailouts enabled Goldman and other investment banks to rape America.

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