|
I bet Goldman has some exposure, my personal thoughts are they may have a lot. A friend of mine worked as a trader at GS from 2005-2007 or so, right out of college - it was a dream job. He traded Credit-Default Swaps and they were acting as a market maker. He told me at the time it was the most profitable part of the bank, of all of GS in the boom times. It was a dream job because it was at the best bank, in the most profitable part of the best bank. The people there got P.A.I.D.
When all this shit hit, GS had surprisingly low exposure to all this BS (subprime, housing, etc), yet was raking in all the profit in the boom times and was considered the best bank. It doesn't add up and wouldn't surprise me at all if they were holding a ton of CDSes and receiving a portion of that bailout money. It also would go along with why they would want it hidden, because the last thing they would want is more risk/uncertainty around major financial institutions.
That article is good because theyre right, something doesnt add up. In my opinion, if TARP banks are involved, they should be named. For private parties, I agree, not right to disclose them, but fuck it, if theyre already getting gov't money on a different front, it should be duly noted they are also on the receiving end of this :2cents.
|