Comments on: There’s no way out of TARP, part II http://norunnyeggs.com/2009/04/theres-no-way-out-of-tarp-part-ii/ The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think. Sat, 11 Feb 2012 02:40:24 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: John Washburn http://norunnyeggs.com/2009/04/theres-no-way-out-of-tarp-part-ii/comment-page-1/#comment-37273 John Washburn Fri, 17 Apr 2009 04:53:44 +0000 http://norunnyeggs.com/?p=5490#comment-37273 You know the report by Goldman Sachs of $1.8 billion profit in the first quarter of 2009 is fraudulent, but legal. The GSB'z (Goldman-Sachs Boyz) redefined their fiscal year so that December 2008 is in neither Fiscal Year 2008 nor in Fiscal Year 2009. Needless to say it is easy to post $1.8 billion in profits when you can claim all the revenue funnelled in via the AIG money Paulson/Geithner used to bailout AIG credit default swap (CDS) contracts and <b><i>NOT</i></b> report any of the $1.3 billion in write-downs Goldman Sachs reported in December 2008. I posted the details of this over at <a href="http://washburnsworld.blogspot.com/2009/04/banksters-at-work.html" rel="nofollow">Washburn's World</a>. You know the report by Goldman Sachs of $1.8 billion profit in the first quarter of 2009 is fraudulent, but legal.

The GSB’z (Goldman-Sachs Boyz) redefined their fiscal year so that December 2008 is in neither Fiscal Year 2008 nor in Fiscal Year 2009.

Needless to say it is easy to post $1.8 billion in profits when you can claim all the revenue funnelled in via the AIG money Paulson/Geithner used to bailout AIG credit default swap (CDS) contracts and NOT report any of the $1.3 billion in write-downs Goldman Sachs reported in December 2008.

I posted the details of this over at Washburn’s World.

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