March 28, 2024, 04:42:50 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News: NEW CHILD BOARD CREATED IN THE POLITICAL SECTION FOR THE 2016 ELECTION
 
   Home   Help Login Register  
Pages: 1   Go Down
  Print  
Author Topic: Goldman Sachs lining up for another $$$ pass-through? Shell game cont.?  (Read 1821 times)
0 Members and 1 Guest are viewing this topic.
WhiskeyGirl
Monkey All Star Jr.
****
Offline Offline

Posts: 7754



« 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

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

Logged

All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
Monkey All Star Jr.
****
Offline Offline

Posts: 7754



« Reply #1 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

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

Temporary tax loss for Goldman? 

Why buy the loss at year end?
Logged

All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
Monkey All Star Jr.
****
Offline Offline

Posts: 7754



« Reply #2 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.
Logged

All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
Pages: 1   Go Up
  Print  
 
Jump to:  

Use of this web site in any manner signifies unconditional acceptance, without exception, of our terms of use.
Powered by SMF 1.1.13 | SMF © 2006-2011, Simple Machines LLC
 
Page created in 6.116 seconds with 19 queries.