April 20, 2009

Outrage!! The Nasssty Governments Won't Let Goldman Ssachs Pay Off TARP!

Bloomberg reports:
Chief Executive Officer Lloyd Blankfein, 54, wants to refund money received from the U.S. Treasury to run the bank without any limits on compensation.
But the government may not let Goldman repay, thunders Henry Blodgett. Are we going to be a market economy or a command economy? Are we on the brink of communism? Etc etc

Back to the Bloomberg piece:
Even after repaying funds to the U.S. Troubled Asset Relief Program, Goldman Sachs intends to take advantage of government help by continuing to sell low-interest debt backed by the Federal Deposit Insurance Corp., Chief Financial Officer David Viniar said on a conference call today.

Goldman Sachs has sold one $2 billion bond without an FDIC guarantee and about $22 billion with the backing since the government program became available in October.

“It’s still attractive to have the FDIC-insured debt,” Viniar said in an interview today. “We’ve issued some non- guaranteed, we expect to issue more non-guaranteed, but the FDIC-insured is also attractive.”
That puts things in a different light...

More here.

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