Word: goldmans
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...government didn't legally have the option to pay less than 100 cents on the dollar to its counterparties. In the past year, many people have criticized Geithner and former secretary Henry Paulson for allowing AIG to pass along much of the money it received from the government to Goldman Sachs and other investment banks. Geithner was also asked whether he thought the government's bailout efforts, which have actually allowed a number of banks like Bank of America, JP Morgan Chase and Wells Fargo to grow, has only exacerbated the too-big-to-fail problem in the banking business...
...already been selling off stakes in some of its other businesses. It divested its Conwood tobacco company for $3.5 billion, sold a 60% stake in its Marmon Group industrial conglomerate to Warren Buffett's Berkshire Hathaway for $4.5 billion and even sold a 13.6% stake in Hyatt to Goldman Sachs and Madrone Capital Partners for $1 billion...
...should have been surprised by the collapse of a corrupt system, and the ingenuity with which the big-money boys land on their feet while stepping on ours. He must also have thought that many in his audience would be familiar with the shuttle of heavy hitters between Goldman Sachs and recent Administrations, Republican and Democratic. Moore does summon University of Missouri professor Bill Black, author of the 2005 book The Best Way to Rob a Bank Is to Own One, to describe Robert Rubin, Henry Paulsen, Lawrence Summers, Timothy Geithner and others as "powerful lobbyists from the inside...
Proving a negative is always a challenge, but there's mounting evidence that the controversial $787 billion stimulus bill is achieving one of its major goals: shortening the recession. Economists at Goldman Sachs say the bill, officially called the American Recovery and Reconstruction Act, has resulted in a 2% to 3% boost to annual GDP in the second and third quarters of this year, turning what could have been a worsening recession into potential growth. For President Barack Obama, whose poll numbers have dropped precipitously from around 65% to around 50% as Americans have become worried about government spending...
...definitely in the minority. Discounting the stock market's fall, Goldman Sachs has just boosted its growth forecast for China to 9.4% this year from 8.3% previously, and to 11.9% in 2010, from 10.9%. Bank of America Merrill Lynch is sticking to its forecast of 8.7% growth...