Goldman pay drops a fifth as profits dive 50pc

[AtW]

They never wanted the money - neither did JP Morgan. They took it to show solidarity.

They've changed bank status from being investment only which was meant they can go bust to retail bank to quality for money, nobody would do that just because of "solidarity".

Bailout of AIG was bailout of GS and other banks who would have gone bust if insurer gone bust because they thought it would be smart to insure default risks.

Talking of which - the whole problem with this tulip started because "clever bankers" started coming up with schemes that are inherently risky like any business but they thought insurance would make it AAA grade investment.

[DodgyAgent]

Of course not - but flip to being "grateful" - they are surely the last people who'd be here if there wasn't a significant amount in it for them - so sod being "grateful". They are here cos they can screw something out of it - fair enough but no need to be "grateful" - they'll be off as soon as they see a better opportunity to help shaft someone else's economy.

True they will go like you to where their commercial interests are best served. We should be thankful not necessarily to them (possibly a better word), but for the fact that the UK is the best environment for them.

[BrilloPad]

They've changed bank status from being investment only which was meant they can go bust to retail bank to quality for money, nobody would do that just because of "solidarity".

It was made very clear by the US government that they had to.

Bailout of AIG was bailout of GS and other banks who would have gone bust if insurer gone bust because they thought it would be smart to insure default risks.

GS held enough collateral to cover the losses. GS was not bothered if AIG went bust or not.

But please don't let facts get in the way of your argument. Carry on....

Am I turning into sasguru?

[AtW]

But please don't let facts get in the way of your argument.

Facts? The fact is they've changed their bank from investment to retail in order to qualify for funding.

Your assertion that somebody made them do it needs a bit more than your opinion.

AIG's collapse would have certainly triggered wave of bank failures, like dominos it would have reached GS sooner or later.

Goldman Sachs Got Billions From AIG For Its Own Account, Crisis Panel Finds

[Peoplesoft bloke]

True they will go like you to where their commercial interests are best served. We should be thankful not necessarily to them (possibly a better word), but for the fact that the UK is the best environment for them.

Yeah and at least they are stepping up and paying their proper tax .........oh hang on

BBC News - Goldman Sachs tax deal faces UK legal challenge