Goldman Sachs is coming under increasing fire on Capitol Hill, for its unapologetic acceptance of $13 billion in payments from AIG, part of the troubled insurer's effort to make counterparties whole. The funds came from the U.S. government, of course.
The bank's recalcitrant stance has whipped up anger, which has led to an announcement that the inspector general (IG) assigned to oversee the Wall Street bailout will look into the issue. The probe will look at many counterparties but the public ire belongs to Goldman. The gilded bank has long been the target of lots of jokes and theories given the many alums who serve later in Washington. But this time the anger turned concrete.
For more:
- here's an article from The Hill
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