Goldman Sachs pay and bonus pool hits $13bn

[sasguru]

As has been pointed out, AIG weren't forced to insure these products. They entered into an agreement hoping to make a profit at a perceived level of risk, which they either hadn't assessed correctly or were prepared to bear.

AtW doesn't understand capitalism and the FREE market at all.
I still remember his classic one when he said he'd ban by law traders from buying Porsches.
He really is a complete moron.

[AtW]

AtW doesn't understand capitalism and the FREE market at all.

How is it free market and capitalism when taxpayer has to bailout bankers and then not being repaid back??!?! It's not capitalism at all.

[GreenLabel]

And banks were not forced to give those tulip loans to people who can't repay...

Actually, I think you'll find that some of them were.

[AtW]

Goldman Sachs Wins Big In Secret Bailout Via AIG

Enough said.

[AtW]

Actually, I think you'll find that some of them were.

Nobody forced banks to BUY tulipy derivatives on that property - that's the root of the problem, if this tulip was not packaged as AAA securities and sold left right and center around the world, then there would be no money to lend those people in the first place, that money came not from banks who lend it but from idiots who lend them money buying securitisized tulip.