Senator Chuck Grassley would like Lloyd Blankfein to please stand up, leave his nuclear balls behind and explain what the deal is with the ad Goldman placed in Politico about being "one of the principal underwriters of the "Build America Bonds" program.
Specifically, Grassley is interested in finding out whether "the big Wall Street investment banks being so involved in, and profiting from, the Build America Bonds program siphons off a lot of taxpayer dollars that are meant to help cities and states."
So he has a few questions for LB and expects a prompt response. We can't wait for LvP's answers.
1. How much in total underwriting fees has Goldman Sachs collected to date on Build America Bonds' issuances?
2. How has Goldman Sachs determined its underwriting fees on Build America Bonds' issuances?
3. Are these underwriting fees larger than the underwriting fees that Goldman Sachs has charged on tax-exempt bond issuances? If so, how much larger are these underwriting fees?
4. Has Goldman Sachs received any money, in addition to the underwriting fees, in connection with the Build America Bonds program?
5. Does Goldman Sachs expect to receive additional underwriting fees if the Build American Bonds expansion and subsidy increase that passed the Senate today is enacted into law?