NYT--Goldman, which accepted billions of taxpayer dollars last fall and, as learned Sunday, was also a big beneficiary of the rescue of the American International Group, is offering to lend money to more than 1,000 employees who have been squeezed by the financial crisis. The loans, offered via e-mail last week, could range from a few thousand dollars to hundreds of thousands.
Apparently there are many Goldman bankers who do not have the cash flow to meet upcoming capital calls in certain Goldman affiliated private equity vehicles.
This is yet another manifestation of the warped economic reality of the Bailout Zone. Uncle Sam financing loans to indigent Goldman bankers.
You can read the full story over on Deal Book
Anyone who wants to know the terms of these loans raise your hand!
"Our model remains sound"
Lloyd Blankfein, CEO Goldman Sachs
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