2009-06-09 — ritholtz.com
``In Bailout Nation, we discuss the possibility that The TARP was all a giant ruse, a Hank Paulson engineered scam to cover up the simple fact that CitiGroup (C) was teetering on the brink of implosion. A loan just to Citi alone would have been problematic, went this line of brilliant reasoning, so instead, we gave money to all the big banks.''
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ronin at 02:30 2009-06-10 said:
Gambling at TARP's? I'm shocked ... But look a little harder at Goldman, please. Until they got the AIG pass-through, they might have been in worse shape than Citi. And Paulson had, to put it delicately, a greater stake in Goldman than in Citi. Blind trusts may be blind, but they ain't deaf. But let's be proud. In our modern age, we have made the Teapot Dome scandal look like child's play. Permalinkadd a comment | go to forum thread
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