Sunday, September 28, 2008
Why did anal hair stylist & self styled Mussolini of finance Paulson let Lehman fail?
The answer to this question is in Gertrude Morgenstern's article in the Sunday 'New York Times' online. Morgenstern is the newspaper's financial senior reporter, and what she says should confirm what 18Brumaire has always contended that anal hair stylist & self styled Mussolini of finance & US secretary of the Treasury is part and parcel of the subprime meltdown, and not of its solution. Morgenstern's article details why Lehman got thrown overboard by il Signor Paulson & his gang of 4, and AIG got a government loan of us$80bn. It seems that Paulson's old outfit Goldman Sachs where he was CEO and had walked away with a cool us$500m in the pocket as he ascended to the post of Herr Bush's cabinet, had a us$20bn exposure with AIG's Financial Product London subsidiary, and that relatively small sum if we are to believe the thick India black ink of Goldman's balance sheet, would have sunk the mighty house of Goldman & Sachs as though it were a stealth torpedo. Morgenstern also says that Goldman Sachs was AIG's leading trading partner, and as such made much dinero from that suspect relationship. AID's downgrading by the equally complacent rating agencies of Moody's & S&P & Fitch, threatened Goldman's standing, and so with Paulson's successor Blankfein also at the secret confab which let Lehman go down the tub, these panicky big swollen heads of world finance snatched AIG from the jaws of failure, and as such brought some confidence back to the markets but not for long, and yet, it saved Goldman from rumour and loss of shareholders confidence. So, when it comes down to it, it looks as though il Signor Paulson acted out of very narrow, selfish motives, in order to save 85 Broad Street, Goldman's headquarters from ruin, and cushion his own class of pirating free wheeling, free dealing, free marketeers at rate or taxpayer expense. And what a bill, the poor slogs are going to chew and gulp down as a whole, whilst these arse holes of the rich and the mighty get off scot free! Anal hair stylist says that the pain is worth it, but not for him, he remains a solid billionaire; tell that the man who faces foreclosure, or the mother who has health assurance to pay for her child's sickness, or to the unemployed worker whose job is in China where Paulson made big bucks for Goldman Sachs! If anyone deserves to be in the dock, it's Paulson for his crime against the American working class, and for his big part in devising and fashioning the subprime Ponzi meltdown!
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