While gabbing about AIG Pat Buchanan pointed out that AIG did not really get the money because it went to other banks. He said that $12b went to Goldman Sachs. And asked why we didn't know this before. Maria Bartiromo said "we knew". Buchanan asked, "You mean you knew before yesterday"? Bartiromo said "yes". Buchanan asked why she never told anyone. Bartiromo replied, "We do have restrictions". Nobody asked what these "restrictions" were. And the subject was immediately changed.
The other day the market went up when Citi reported a profit for January. Wanna know where that money came from? It's not hard to connect the dots. It also was reported (TPM had been on this for months) that a lot of the bad securities were held by foreign banks and that a lot of the bail out money was flying right into their hands. It was being used as leverage on UBS to open up their books...and for other banks and governments to try to stop the global skid...dollars made the mess, dollars were expected to clean it up.
Maybe Greed Central viewers were never told...but then they didn't want to know. All they care is to see that little arrow pointing up. How its done is none of their concern.
10. Don't be to hard on Maria! I must say, however, this news really blows.
Maria heard wrong when someone told her that she'd have to have access with CEOs and major shareholders to get a story. She though they said she'd have to have assecks with CEOs and major shareholders to get a story.
20. Can someone explain this to me? Obviously this would go to other banks since AIG is an insurance
company? They insured these bad assets these banks bought and now they have to cover them. Jon Stewert pointed this out a week or 2 ago during an interview on his show.
22. This is exactly what Jim Cramer said last week.
They know a lot more than they're letting on about how the sausage is made on Wall Street. They are just as complicit as any CEO or CFO they fawn and preen over everyday. CNBC is nothing more than an all-day infomercial and should be discredited right off the air. Some of what they know seems to me to be close to falling under what would otherwise be considered "insider trading," but I'm no expert.
At least they're not coy about admitting they're whores -- that's something, I guess.
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