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House Panel's Other Punching Bag Goldman

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AND LLOYD WASN'T EVEN THERE

"But Mr. Kucinich asserted during the hearing that Goldman was lying and that a committee investigation on the issue showed that Goldman would have indeed lost money if the government had allowed A.I.G. to default on its commitments — therefore alluding that the firm had a motive in wanting the government to unwind credit default swaps at par," Dealbook reports. "Mr. Geithner said he “was not aware and could not have been aware” of the hedging strategies of all of A.I.G.’s counterparties.

“If the New York Fed fought for taxpayers, Goldman would have lost money it didn’t have any hope of recovering, in spite of public statements to the contrary,” Mr. Kucinich said.

SOURCE:   Dealbook

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