Howdy Vorts,
Sec.Henry Paulson announced the bailout of AIG with a loan of $ 85 bil of our money. Guess which investor gets paid 100 cents on the dollar on this deal?? Goldman-Sachs and Pimco ( Pimpco for the California state pension funds).. guess who ran Goldman- Sachs before he was appoint treasury secretary? Henry Paulson. Who just bought 4 bil in preferred stock in Goldman-Sachs at 115 bucks a share with a guaranteed 10% interest? Warren Buffett. PLUS Warren gets an option to buy 4 bil in common stock in G-S for 115 bucks a share fixed base price over the next 5 years ?? and G-S stock is now selling above $ 135 and change ...Warren Buffett . Who is Warren Buffett? His firm owns a huge re-insurance firm named General Reinsurance co ( GenRe). who the heck are they?? They kinda.. sorta run the insurance industry that AIG sorta lays off risk onto.. like a bookie lays off his bets. GenRe kinda loaned some "wash money" to AIG last year that sorta fell off the back of the truck on the way to the bank.Just a piddlin 10 bil, no big deal. Buffett also owns GEICO insurance .. the one with the green geeko. Meanwhile , back at the ranch.. in Texas.. American General Insurance co, the wealthiest insurer around in cash money in the bank was bought by AIG with IOU's sometime back.. BUT.. the Texas Insurance commission balked recently when AIG needed to borrow 40 bil from AmerGen... Not to worry.. the Fed is bigger than the state as we learned after the last shot was fired in the Civil War as 550,000 dead soldiers learned the hard way that money talks louder than bullets or slavery. Sooo.. do you suppose the Fed can now sorta borrow $ 40 bil from AmerGen now? Bartender is now taking bets that G-S and Buffett are now expanding their vault to hold the $ 700 bil in bailout money. Too bad about WaMu.. but.. heck. with a name like that.. coulda get a date with a gal from Dime Box Texas. Richard
