Goldman...Give us back our money! [View All]

http://www.huffingtonpost.com/cenk-uygur/ask-goldman-sachs-to-give_b_586828.html

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Sometimes when you explain to people that some of the most complicated financial transactions in the country were just side bets, they don't really believe you. They think it's an oversimplification. We couldn't have wrecked the global economy because some people made side bets. These are sophisticated bankers with sophisticated financial instruments, so it must be more complicated than that. It isn't. They bet one another, whoever lost got paid by the American taxpayer.

To be fair, sometimes they had the money to pay off one another without government bailouts, but not often. That's because they were largely betting with money they never had. AIG is the perfect example. Their executives made hundreds of millions of dollars in bonuses from the early wins in these bets, but then stuck the taxpayers with a $182 billion bill when they lost.

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