Here's a comment from DBSmith from Dealbook which decribes GS's actions:
DBSmith, New York, comments:You can read the article and comment here
According to this article: http://www.businessinsider.com...
GS has sold well over $100 Billion of MBS to the Fed since June 2009 -- $100,000,000,000 in (likely) toxic securities. These sales weren't reported at the time and still aren't reported in detail, i.e. at what price did the Fed purchase -- market or par.
Clearly, the Fed has recapitalized GS by stealth -- if it hadn't been for the Discount Window borrowings and these MBS purchases (plus the AIG bailout and ZIRP) GS would be bankrupt.
The MSM should be screaming about the injustice of this from the front page, every day. GS executives collecting tens of millions in bonuses when, if not for the taxpayer, they would be unemployed.
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What is especially galling is that Goldman Sachs acts as though all the money they have accumulated for bonuses and pay was earned without any assistance from the Fed. Their faces should be emblazoned red with shame and embarrassment because of their use of taxpayers' money to contribute to their lavish and expensive lifestyles. Shame!
Here's What We Now Know About Goldman's Connection To The Fed
from The Daily Reckoning
by Eric Fry - Business Insider