Thread: the truth about the bailout

Goldman Sacks CEO Henry Paulson who $40M in bonuses from selling the toxic waste known as GSAMP Trust bonds.

These bonds were impossible to sell within TWO YEARS, because no one was willing to risk buying them.

The estimates are that Goldman Sacks sold $100B in these trust bonds around the world, and it was only one of the firms doing this.

Unlike the Fannie and Freddie backed securities that repay 95% of par value because they're never more than 80% of the property value, these "trust" bonds (cough) were based on the last 20% of the property value.

These bonds, get paid AFTER Fannie and Freddie get repaid, and thus will repay as little as 20% of their par value, or maybe 50% on a good day, or 0% on a bad day.

So, why is Treasury Sec Paulson asking for the bailout money?

It's so, he has the unilateral right (and money) to buy at par value those GSAMP Trust bonds that he sold as CEO, and which are now certain to never repay more than a fraction of their face value.

Freddie and Fannie are the favorite scapegoat because they weren't charging high enough prices and thus denying Goldman Sachs and other BANKERS the opportunity to get people into 0% for three year loans that stepped up to 8-10% for the next 27 years - it's because the evil Freddie and Fannie were putting people into 30 year fixed loans at 5-6% and that just wasn't profitable enough!!!

This whole process, is making serfs out of consumers, and convincing them that you are making their life better by giving them money at 8-10-12-15-19-21% interest (and in the case of pay day loan companies, they figure they are providing a great service when they make the grunts pay 300-400% interest on loans).

WHY is it, that the people who really NEED the money, are getting TOTALLY SCREWED, while the people who don't, are getting 40 million dollar bonuses for sending the country into a depression?

Because it is all part of the grand plan to cement the oligarchy as the rulers of America. In an effort to make the vast majority of Americans wage slaves shackled with debt both public and private thereby eliminating all vestiges of a republican form of government.

Originally Posted by anonnymous

Because it is all part of the grand plan to cement the oligarchy as the rulers of America. In an effort to make the vast majority of Americans wage slaves shackled with debt both public and private thereby eliminating all vestiges of a republican form of government.

Hi anonn! Welcome back, buddy. Good to see you back.

You forgot this little tid bit, looks like Lehman was able to "off shore" about 400 billion before they filed for bankruptcy.

Lehman Brokerage Lost $400 Billion in Assets Before Bankruptcy

To Wall Street........

Originally Posted by nonsqtr

Hi anonn! Welcome back, buddy. Good to see you back.

Glad to be back :waving: