In reality, at the very least $thirteen billion on the taxpayer income given to AIG in the bailout in the end went to Goldman, that means the lender created out within the housing bubble twice: It fucked the traders who acquired their horseshit CDOs by betting from its personal crappy product or service, then it circled and fucked the taxpayer by building him pay back those self same bets.
It absolutely was a repeat of the two the Internet trend as well as the housing bubble, when Wall Street jacked up present-day income by marketing suckers shares of a fictional fantasy future of endlessly climbing price ranges.
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Nevertheless the best was but to come. Although the collapse of the housing bubble despatched most of the financial earth fleeing for the exits, or to jail, Goldman boldly children's bubble machine doubled down — and Just about one-handedly developed One more bubble, 1 the earth nevertheless hardly is aware of the company experienced anything at all to do with.
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Taken alongside one another, the quantities show that Goldman essentially borrowed a $five billion wage payout for its executives in the course of the global financial disaster it helped result in, making use of half-baked accounting to reel in traders, just months immediately after acquiring billions in the taxpayer bailout.
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