What Wall Street Owes You (Commentary) Excerpt
CNN (special and exclusive to CNN) - July 15, 2009
by Janet Tavakoli

"Without an ongoing series of front- and backdoor bailouts financed by U.S. taxpayers, most of Goldman's record profits would not have been possible."

Also see VIDEO: "What Wall Street Owes You," BNN - July 15, 2009

End of Excerpt

JT Note: The U.S. taxpayer is now a majority partner in Goldman Sachs and should get an ongoing share of the profits. Goldman is too big to fail, but without U.S. taxpayer bailouts of the systemic risk of the investment banking and banking community, equity investments, and our ongoing guarantees and cheap financing, it would have failed. Goldman is ramping up risk, and it is paying incentives to its employees to continue to ramp up risk. It knows we will continue to bail it out in the form of cheap funding and government guaranteed debt, and we will provide further bailouts when it gets into trouble again.


Related story in The New York Times Deal Book

Janet Tavakoli is the president of Tavakoli Structured Finance, a Chicago-based firm that provides consulting to financial institutions and institutional investors. Ms. Tavakoli has more than 20 years of experience in senior investment banking positions, trading, structuring and marketing structured financial products. She is a former adjunct professor of derivatives at the University of Chicago's Graduate School of Business. She is the author of: Credit Derivatives & Synthetic Structures (John Wiley & Sons, 1998, 2001), Structured Finance & Collateralized Debt Obligations (John Wiley & Sons, 2008), and
Dear Mr. Buffett: What An Investor Learns 1,269 Miles From Wall Street (John Wiley & Sons January 2009)

Clients of Tavakoli Structured Finance have the benefit of proprietary consultation, which is not available in any other paid or public forum. Clients also commission proprietary research and analysis.

TSF makes some information available to the general public. Please click here for other articles.