Is Owning 0.00535714% of Goldman Sachs Significant?
A.I.G. Chief Owns Significant Stake in Goldman
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April 17th, 2009 at 1:45 pm
You have it backwards. It’s not how much Liddy owns of Goldman. Rather it how much of Liddy’s own net worth is tied up in Goldman. The conflict is whether Liddy will allow AIG to support Goldman’s stock price. He owes nothing to AIG has he’s only getting $1/year.
April 17th, 2009 at 1:59 pm
Markit:
I don’t like the idea of people working for $1/year, but I don’t think his stock in GS is “significant”.
If we want to get deeper into conspiracy theories, consider this, Liddy can’t do a thing at AIG without Fed approval, but wait a minute, who is running the NY Fed?
GS has been too clever by half.
April 17th, 2009 at 2:46 pm
I think he should put his Goldman stock in a blind trust until he’s done at AIG.
April 17th, 2009 at 2:58 pm
Right.
April 17th, 2009 at 4:09 pm
What, you mean that wouldn’t help?
April 17th, 2009 at 4:47 pm
EP:
Of course, it wouldn’t help, at least in the eyes of people who think everyone is as crooked as they are. Appearances matter for some.
I don’t like do-gooders working for $1/year but the GS stock I don’t care about, he is not depending on that for his next lunch and the big decisions at AIG are taken in concert with the Fed, so he has no leeway at all to favor GS.
April 17th, 2009 at 6:14 pm
I was just kidding. (Putting GS stock in a blind trust then just taking it out again when you are done is the same as just holding GS the whole time). I was trying to make fun of the hoopla. My humor seems impaired lately though.
Also, I SWEAR this anti-spam question has the answer wrong on occasion. Am I totally losing it?
:)
April 17th, 2009 at 6:24 pm
EP:
The hoopla is pretty ridiculous considering that the Liddy connection to GS made the front page of the WSJ on september 16, 2008.
Now to the serious stuff:
“Also, I SWEAR this anti-spam question has the answer wrong on occasion. Am I totally losing it?”
The answer is always right but I have made a change because previously you could get a question like 7+? or ?+7 and some people didn’t guess that it was equivalent to 7+0 (or 0+7)
Now you always get 2 numbers to add up, to avoid confusion.
Add:
The Manga books are pretty good btw.
April 17th, 2009 at 6:49 pm
At #1 …
According to NYT (http://topics.nytimes.com/top/reference/timestopics/people/l/edward_m_liddy/index.html?inline=nyt-per)..
Liddy made $137 million from 99-07 … he owns $3M worth of Goldman … is less than 3% of his wealth significant?
Strike 2!
April 19th, 2009 at 6:44 pm
$3 is *always* significant, even for folks who have $100M. It’s certainly enough to focus one’s attention. Phrasing the question as you did is more political then economic, and, in general, it’s bad politics whether right or left. If you genuinely believe $3M is *not* significant, that, in turn, suggests you’re an outrider of outriders.