Goldman CFO Says No Discussions With Paulson Over AIG Trades

[seafan]

Source: CNN Money

NEW YORK -(Dow Jones)- Goldman Sachs Group Inc. (GS) Chief Financial Officer David Viniar said the investment bank's chief executive never held talks with former Treasury Secretary Henry Paulson to discuss trading risks with insurer AIG.

Viniar said Goldman began asking American International Group Inc. (AIG) for collateral in 2006 for eroding trading positions. The increase in collateral calls caused Goldman Sachs to scale back its trading relationship with the embattled insurance giant the following year, he said.
During this period, Viniar said that Goldman CEO Lloyd Blankfein never held talks with Paulson about potential problems at AIG.

.....

"As far as I know, there were no meetings between Lloyd and Hank Paulson. As far as alerting people, we meet with our regulators regularly."

Goldman Sachs, which was AIG's biggest trading partner, has come under attack after receiving about $14 billion of AIG's bailout money. Goldman had about $10 billion worth of trading exposure with AIG, of which $7.5 billion was backed by collateral and the balance through hedges.

Read more: http://money.cnn.com/news/newsfeeds/articles/djf500/200903201307DOWJONESDJONLINE000737_FORTUNE5.htm

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More and more, it appears that when it came to receiving funneled money from AIG's share of the $85 Billion taxpayer-funded bailout, Goldman Sachs came in first.


Bush's warrantless wiretapping and entrapment of Eliot Spitzer isn't stopping him from shouting the truth.

[BrklynLiberal]

1. ..of course... I mean why should Viniar lie? bwaaahaaahaaahaaa

:rofl: :rofl: :rofl:

When reading article like the one at your link, it becomes apparent why Spitzer was targeted.
Wall St hated him, and Wall St owned the govt.

[seafan]

2. This is EXACTLY why Spitzer was targeted. And he STILL has the goods on these criminals. n/t

[BrklynLiberal]

3. I am glad that he still has a place from which to expose these criminals

[aquart]

4. Their "regulators"? Larry, Moe, and Curly?

[LeftHandPath]

5. Oh, and it goes even further...

The current head of AIG, is a former Goldman Sachs board member.

Geithner, former protege of Hank Paulson and former Goldman Sachs employee.

Geither's top advisor at Treasury, former Goldman strategist.

Everything leads back to Goldman Sachs.

That should be the first institution we take down with our pitchforks and torches.

[dreamnightwind]

7. You got it

All roads lead to Goldman Sachs. I doubt that Obama even has the power to oppose their policies. It's important that public outrage is focused where it belongs. Goldman Sachs has owned the last 3 administrations, and had a huge role in getting us where we are today. I don't even want to think about their vision of where we should be tomorrow.

[Rage for Order]

9. I thought it was the Carlyle Group?

And Halliburton, Blackwater, and Exxon? When did Goldman start owning the government instead?

[unkachuck]

8. in the past....

....we had to invest with these capitalists to get fleeced....now they have their governmental agents ship them billions straight from the treasury right to their door....it must be more efficient that way.

[mr_smith007]

6. I think at this point

Elliot Spitzer could be caught on camera having weekly orgies with blow up dolls and still be seen as morally superior to the likes of some of these Wall Street titans. He needs to keep talking and share his insight into what is happening in this industry. I think his past personal life now seems so harmless to people compared to the outrages committed by Wall Street over the last year.

[KakistocracyHater]

10. get rid of CEO positions & CFO too

why: do you really have to ask anymore? Those Banksters should be frozen, I'd permanently nationalize them, I would not want all those Medici-wannabes pestering me around my ankles, which they fully intend to do with Pres. Obama.

I would tell them that "corporate personhood" could be removed if they choose the hard way. America is too big a democracy to fail because of Trust Slug Trash.

The execs at the top show ((((no decency)))) while costing their business 100s of millions of dollars, to reward failure-THEY ADMIT THERE IS NO FREE MARKET.