Eliot Spitzer Would Like You To Shut It With Your Populist Rage

Posted by Bess Levin, Mar 17, 2009, 1:53pm

Picture 908.pngThe former gov rightly points out that the dollar amount in bonuses going to AIG employees is a fraction of a drop in the bucket, and there bigger questions to be answered, like that business with the counterparties. Unfortunately, he fucked a prostitute last year, and is no longer in a posish to be asking them (with the expectation of receiving a verbal or written response) of anyone in charge, and thus must turn to the internet. So let's do him a solid, for old time's sake, and role-play, which you know he's always down for. He'll be the Steamroller and provide the Q's, you be whatever "criminal" whose ass he's hauled in for answers. Begin:

Here are several questions that should be answered, in public, under oath, to clear the air:

- What was the precise conversation among Bernanke, Geithner, Paulson, and Blankfein that preceded the initial $80 billion grant?

- Was it already known who the counterparties were and what the exposure was for each of the counterparties?

- What did Goldman, and all the other counterparties, know about AIG's financial condition at the time they executed the swaps or other contracts? Had they done adequate due diligence to see whether they were buying real protection? And why shouldn't they bear a percentage of the risk of failure of their own counterparty?

- What is the deeper relationship between Goldman and AIG? Didn't they almost merge a few years ago but did not because Goldman couldn't get its arms around the black box that is AIG? If that is true, why should Goldman get bailed out? After all, they should have known as well as anybody that a big part of AIG's business model was not to pay on insurance it had issued.

The Real AIG Scandal [Slate via Clusterstock]

0Recommend this! 23Comments

Comments

Comments hidden for your protection. Show them anyway!

Post Your Comment