On the fact that the bonds don't exist anymore is a red herring. The state chose to replace the bonds, voluntarily, from floating to fixed. There's no reason that should get them off the hook from a side bet.What is interesting here is the fact that Jon Corzine is Governor of New Jersey and was a U.S. Senator. Now N.J. taxpayers are paying "his old company". Amaxing how former GS heads of state enter politics and through their political positions seem to continue enriching their former colleagues. It seems like the taxpayers always pay and Goldman Sachs always receives.
While this is a Goldman Sachs blog, the influence of influentioal politicians on their former companies are incredible. Another example would be Vice President Cheney's former position as head of Halliburton and Halliburton getting all the private contractor work in Iraq with no bids or competiton. And let's not foreget that Halliburton is NO LONGER an American company. They are a Dubai corporation and it just so happens that VP Cheney was in Dubai during the Republican Convention.
Add all this to Paulson's secret meetings with Goldman Sachs execs in Moscow. Connect all the other dots we have published here as others have elsewhere and you should begin to see what is happening and who is really in control. Goldman ex emplooyees seem to permeate throughout government. Who do they truly represent?
WAKE UP AMERICA