NEW YORK (TheStreet)-- Goldman Sachs (GS Quote) may deserve an apology.
Okay, so there are a few eyebrow-raising issues here. However, what has been obscured by the latest furor over revelations that the New York Fed told AIG not to disclose that it made the banks whole on the $62 billion in securities, or who the banks were, is that the government expects to recoup the entire $62 billion, plus interest, The Wall Street Journal reported Friday, citing U.S. Treasury spokeswoman Meg Reilly. In other words, a decent argument could be made that the bailout of Goldman via AIG wasn't such a big bailout after all, or at least that it was only temporary. One might still argue that the banks should have taken a haircut, as the securities were surely not worth 100 cents on the dollar at the time, given the wobbly state of the markets. Loading Comments... < Previous 1 2 Next >SHARE:
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