The Tycoon Report – Bob De Dea – A Wall Street Saga: A ‘Goldman’ Oportunity (Part 2)


The Tycoon Report – Bob De Dea – A Wall Street Saga: A 'Goldman' Oportunity (Part 2): “The Only Things Certain are Death and … WHAT?!!?

If you said ‘taxes,’ you must not be at Goldman Sachs! Check out this timeline of events:

September 2008: Treasury Secretary Hank Paulson chooses to let Lehman Brothers fail. By doing so, he eliminates Goldman Sachs’ last real competitor.

The Next Day: Treasury Secretary Hank Paulson bails out AIG. AIG hands over $13 billion of the received funds to Goldman in repayment of debt owed.

Shortly Thereafter: Treasury Secretary Hank Paulson implements the Troubled Asset Relief Program, a $700 billion federal bailout for the financial industry, placing Neel Kashkari, a 35-year-old Goldman banker, in charge of administering the funds.

In the Wink of an Eye: POOF! Goldman transforms from an investment bank into a bank-holding company and gets $10 billion in TARP monies.

Same Day: Since the transformation, Goldman is now supervised by the New York Federal Reserve, headed by Stephen Friedman, former co-chair of GS. (He got a conflict-of-interest waiver, which made him big bucks because he not only didn’t have to divest himself of GS stock, but he also bought 52,000 more shares.) He leaves the Fed in May 2009.”


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