Yeah, but it's bullshit. It's just the money we all gave AIG that got passed through to Goldman (all arranged by past and future Goldman employees working in government and for the Federal Reserve.) And they're still doing a ton of off balance sheet accounting shenanigans to hide their liabilities. If you take away the government hand outs and forced them to mark their balance sheet to market (or to something at least close to reality) they would not be turning a profit. They're just kicking this shit down the road; they're not fixing anything.
The Matt Taibbi article is very good.
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The Matt Taibbi article is very good.
- jim 7-14-2009 2:30 pm