It’s official: Goldman Sachs, the troubled firm which sunk over $50 million into scam-cam vendor American Traffic Solutions last month, is now the recipient of a sizable infusion itself.
This time, you’re the investor.
The nine banks to get half of the $250 billion to be invested by the government as part of a massive rescue bailout of the financial system are: Citigroup, JPMorgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, Wells Fargo, Bank of New York Mellon, State Street and Merrill Lynch, soon to be taken over by Bank of America.
Half of $250 billion is $125 billion, divided by nine leaves $13.8 billion for Goldman Sachs.
What a scheme! You pay for the tickets. You pay for the bailout. And, you pay for the insurance.
Didn’t we warn you that “All They Want To Do Is Take Your Money?“