The Federal government "had" to bail out AIG.
Whose opinion?
AIG CEO Edward Libby
(former Goldman Sachs director)?
Then-Treasury Secretary Henry Paulson
(former Goldman Sachs CEO)?
New York Federal Reserve Board of Directors
(many of whom are Goldman Sachs alumni)?
Who was the biggest beneficiary of the AIG bailout?
Goldman Sachs!
What just took place: Transfer of wealth from taxpayer to AIG to Goldman Sachs (and other investment banks).
Commentary: Goldman Sachs had some of the largest hedge funds who bought put options and credit default swaps and then sold short on the respective common stock. They engineered the trillions in losses and billions in profit for themselves. And finally, through the endless federal bailouts, they take the taxpayers' hard-earned money even though the taxpayer was not responsible for any of this scheming.
Opinion on Goldman Sachs common stock: BUY
Rationale: Their revolving door policy with the US government guarantees their success and solvency.
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