Did You Know the Bailout is a Contest?
At of the end of November I found an internet article listing the bailout winners and losers and why they were the winner or loser. Up until the time I read this article I was not aware that the bailout was a contest – were you?
So who are the bailout winners and losers?
- Goldman Sachs – They are big and were not as exposed to the subprime mess
- Harry Reid – The Senate Majority leader who used a loophole to put pressure on house members not already on board with the bailout
- Bank of America – Expanding and merging with Merrill Lynch.
- JP Morgan Chase – Now number 2 to Bank of America, acquired Bear Stearns and bought Washington Mutual assets
- Warren Buffett – “This really is an economic Pearl Harbor,” is what he said but still invested 5 billion in Goldman Sachs and 3 billion on General Electric
- Henry Paulson – We just have to trust his decisions are the correct ones and not worry because Congress is watching
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