Come on, are we really supposed to be surprised? Goldman Sachs are professional liars!
Look at this baloney today:
April 14 (Bloomberg) -- David Viniar, Goldman Sachs Group Inc.’s chief financial officer, said he’s “mystified” by the interest investors and government officials have shown in the bank’s trading relationship with American International Group Inc.
“They’re one of thousands and thousands and thousands of counterparties and the results of any trading with AIG are completely immaterial to what we do,” Viniar said today in an interview. “I am mystified by this fascination with AIG.”
You had $2.7 billion of writedowns in December, in the month you didn't count, because you changed your quarter.
Goldman never "clarified" their AIG relationship; and the taxpayer anted up $18.5 billion to them. So Viniar is mystified?
You had the Rohm & Haas merger, that they could stuff in, along with all the goodies from the taxpayer, so they could clean up some of their dreck, but they needed to change the dates on the quarter to facilitate it. That story was here, along with the picture on Goldman's website, which they now changed.
Goldman needed to dump the AIG goodies in December, and then get the Rohm & Haas fees. The December loss also included another billion in principal losses, meaning Goldman had $2.5 billion in principal investment losses.
Now Goldman again bagged secondary buyers, because they couldn't sell shares at a price less than Warren paid.
And they did it, on the taxpayer backs!
Their quarter, was as phony as Linsay Lohan's eHarmony ad.
The only difference is that nobody wants to get done by Goldman!