Earlier today, on Morning Meeting, Dylan Ratigan attempted to demonstrate the way Goldman Sachs-- rescued from collapse a year ago by taxpayers -- managed to pull off the magic trick of making themselves $3 billion dollars in three months. Unfortunately, in-studio technical problems with uncooperative teleprompters conspired to make the segment unclear. That's okay, though, because Ratigan and Alex Witt returned to the studio this afternoon to reshoot the segment. We are pleased to bring it to you as its authors intended it to be seen.
The question is not why did we bail out the banks.
The question is why did we give the banks billions of our money so they could then buy assets by the trillions with our money and they keep the profits?
The answer is Henry Paulson, former Goldman Sachs CEO who ran the US Treasury, and Tim Geithner, current Treasury Secretary who at the time ran the New York Federal Reserve, willingly delivered Goldman Sachs the $70 Billion -- with no strings attached.
PREVIOUSLY, on the HUFFINGTON POST:
Goldman Sachs Black Magic, Here's How They Did It