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May 12, 2009

Will Goldman Sachs ever be investigated?

Editor's note: Will Goldman ever be investigated? When someone with the prosecutorial experience like Eliot Spitzer says something's fishy, you know something's going on. Will Goldman ever be held to account?

Government Sachs is in control
By David Weidner, MarketWatch

Since the fall of Bear Stearns Cos. a little more than a year ago, Goldman has taken more than $20 billion in taxpayer cash through loans, payments and backstops. Goldman's latest bailout coup was a $12.5 billion paid out of AIG's $180 billion government cash infusion.

Until it was fully extricated, Goldman always characterized its exposure to AIG as "immaterial," and that its $20 billion notional exposure to AIG was hedged. Turns out that it was -- through government bailouts that didn't exist when Goldman entered the contracts.

Even former New York Luv Guv Eliot Spitzer told journalist Fareed Zakaria on Sunday that he thinks something smells.
Read the full story- Click here

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