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View Diary: "Widows and Orphans" (63 comments)

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  •  and the quadruple dip (0+ / 0-)

    involves the bailout of AIG, at taxpayer expense, when those so called "negative bets" or "shorts" to Goldman and other Wall Street banks starting to come due and the massive payouts threatened to collapse AIG. Goldman used their influence to ensure that AIG was bailed out with billions of taxpayer dollars, sufficient to pay off on those short bets, one hundred cents on the dollar. That takes some brass danglers to engineer a massive fraudulent multi-tiered Ponzi scheme, and when one of your marks is on the verge of a bust out, unable to pay off on their bets, Goldman gets the government to step in and cover the bets. These Goldman execs, and well placed alumni, make mafia bosses look like mere dilettantes and wannabes.

    And when he came back to, he was flat on his back on the beach in the freezing sand, and it was raining out of a low sky, and the tide was way out. --DFW

    by klingman on Sat Apr 24, 2010 at 10:38:18 PM PDT

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