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"I get very passionate about what I think is right."-Hillary Rodham Clinton

Found this…

Goldman reveals where bailout cash went – USATODAY.com.

Goldman had not disclosed the names of the counterparties it paid in late 2008 until Friday, despite repeated requests from Elizabeth Warren, chairwoman of the Congressional Oversight Panel.

“I think we didn’t get the information because they consider it very embarrassing,” Grassley said, “and they ought to consider it very embarrassing.”

The initial $85 billion to bail out AIG was supplemented by an additional $49.1 billion from the Troubled Asset Relief Program, known as TARP, as well as additional funds from the Federal Reserve. AIG’s debt to U.S. taxpayers totals $133.3 billion outstanding.

“The only thing I can tell you is that people have the right to know, and the Fed and the public’s business ought to be more public,” Grassley said.

The list of companies receiving money includes a few familiar foreign banks, such as the Royal Bank of Scotland and Barclays.

DZ AG Deutsche Zantrake Genossenschaftz Bank, a German cooperative banking group, received $1.2 billion, more than a quarter of the money Goldman paid out.

Warren, in testimony Wednesday, said that the rescue of AIG “distorted the marketplace by turning AIG’s risky bets into fully guaranteed transactions. Instead of forcing AIG and its counterparties to bear the costs of the company’s failure, the government shifted those costs in full onto taxpayers.”

AIG received the bailout of $85 billion at the discretion of the Federal Reserve Bank of New York, which was led at the time by Timothy Geithner. He now is U.S. treasury secretary.

“I think it proves that he knew a lot more at the time than he told,” Grassley said. “And he surely knew where this money was going to go. If he didn’t, he should have known before they let the money out of their bank up there.”

So I am reading all this and thinking wow, this is really interesting. But then I get to the bottom and see this:

Braley also noted that the AIG bailout was negotiated under President George W. Bush, a Republican.”


WTF?Oh and btw, Braley is U.S. Rep. Bruce Braley, a Waterloo Democrat…So, why not say, it was a Democratic Congress that negotiated the bailout. This just pisses me off, why give that little stab about the Bush administration. And I am not a Bush lover…I really did not like the man at all. But why not grow some balls and admit the truth? These Democrats make me sick, they are all just assholes, and the GOP is not a great alternative either. They all stink!

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