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	<title>
	Comments on: There&#8217;s no way out of TARP, part II	</title>
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	<description>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.</description>
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		By: John Washburn		</title>
		<link>https://norunnyeggs.com/2009/04/theres-no-way-out-of-tarp-part-ii/comment-page-1/#comment-37273</link>

		<dc:creator><![CDATA[John Washburn]]></dc:creator>
		<pubDate>Fri, 17 Apr 2009 04:53:44 +0000</pubDate>
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					<description><![CDATA[You know the report by Goldman Sachs of $1.8 billion profit in the first quarter of 2009 is fraudulent, but legal.

The GSB&#039;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 &lt;b&gt;&lt;i&gt;NOT&lt;/i&gt;&lt;/b&gt; report any of the $1.3 billion in write-downs Goldman Sachs reported in December 2008.

I posted the details of this over at &lt;a href=&quot;http://washburnsworld.blogspot.com/2009/04/banksters-at-work.html&quot; rel=&quot;nofollow&quot;&gt;Washburn&#039;s World&lt;/a&gt;.]]></description>
			<content:encoded><![CDATA[<p>You know the report by Goldman Sachs of $1.8 billion profit in the first quarter of 2009 is fraudulent, but legal.</p>
<p>The GSB&#8217;z (Goldman-Sachs Boyz) redefined their fiscal year so that December 2008 is in neither Fiscal Year 2008 nor in Fiscal Year 2009.</p>
<p>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.</p>
<p>I posted the details of this over at <a href="http://washburnsworld.blogspot.com/2009/04/banksters-at-work.html" rel="nofollow">Washburn&#8217;s World</a>.</p>
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