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Title: Goldman Sachs lining up for another $$$ pass-through? Shell game cont.? Post by: WhiskeyGirl on January 01, 2010, 11:21:47 AM Things that make me go hmmm...
Quote Goldman Sachs Buys $57 Million in Claims on Lehman (Update3) December 29, 2009, 06:01 PM EST (Adds Barclays’ total trading in eighth paragraph.) By Linda Sandler Dec. 29 (Bloomberg) -- A Goldman Sachs Group Inc. unit bought about $57 million in claims on bankrupt Lehman Brothers Holdings Inc. from Japan’s Shinkin Central Bank, according to court filings. Quote Lehman claims change hands almost daily, sometimes passing to traders or investors willing to wait for payment. Creditors of Lehman filed $824 billion in claims against the investment bank that’s liquidating in bankruptcy. Lehman hasn’t finished examining the claims or devised a plan to pay what it can. http://www.businessweek.com/news/2009-12-29/goldman-sachs-buys-57-million-in-claims-on-lehman-update3-.html (http://www.businessweek.com/news/2009-12-29/goldman-sachs-buys-57-million-in-claims-on-lehman-update3-.html) I can't help but think this is some new shell game to stick taxpayers with making good on Lehman debt. What comes to mind is Barney's new bank regulation bill and it's $4 Trillion dollar slush fund for small banks for the president and the president's new financial emergency powers. What if Goldman sold/transferred this debt to Goldman owned or controlled small banks? An immediate cash infusion? A new passthrough for Goldman and perhaps others? Why buy this debt? More generational theft? jmho Title: Re: Goldman Sachs lining up for another $$$ pass-through? Shell game cont.? Post by: WhiskeyGirl on January 01, 2010, 11:32:25 AM Was the American Lehman stripped of it's assets? All the assets go to foreign bankruptcy? Americans getting stuck with the bill?
Quote LONDON -- Former clients of Lehman Brothers' European operations voted in favor of a plan to speed up the return of about $11 billion in frozen client assets, the collapsed bank's European administrator said Tuesday. Quote When PwC was appointed as administrator on Sept. 15, 2008, Lehman's European arm held $32 billion in client assets. Since that date, $13.3 billion has been returned via bilateral agreements. http://online.wsj.com/article/SB10001424052748703510304574626210736343076.html (http://online.wsj.com/article/SB10001424052748703510304574626210736343076.html) More European assets than debt? Quote LBIE held some $32bn of client assets on September 15 2008. Since then, $13.3bn has been returned. The administrators have recovered $1bn of client assets from Lehman Brothers Japan, the first return of assets between affiliates. http://www.ft.com/cms/s/0/2e2cc88e-f4b5-11de-9cba-00144feab49a.html (http://www.ft.com/cms/s/0/2e2cc88e-f4b5-11de-9cba-00144feab49a.html) Temporary tax loss for Goldman? Why buy the loss at year end? Title: Re: Goldman Sachs lining up for another $$$ pass-through? Shell game cont.? Post by: WhiskeyGirl on January 02, 2010, 06:56:06 AM I wonder if free or low cost taxpayer money is being used by Goldman to buy these Japanese claims?
Goldman makes money and taxpayers get stuck with the debt regardless. Privatize profits, socialize losses. No jobs for prosperity for Main Street. |