Goldman says they were not affected "directly" with their hedges, but they did say that if AIG did collapse, they would not of been unaffected.
Just their counterparties, who hedged their hedge with AIG!
What a daisy chain of synthetic lies!
The majority of Goldman's cash collateral now on their AIG hedges came from the taxpayer.
And when the question was brought up why Goldman and the other counterparties didn't take a haircut on their transactions with AIG, Goldman simply stated that they wouldn't of done a transaction with the Government, if it wasn't done at par!
Because Goldman Sachs, is simply the Fed's bank.