The actual Black Rock presentation which proves Goldman Sachs was willing to take a hair cut on AIG CDS payouts is online.

The document availability is by the good graces of Zero Hedge, who I also highly recommend reading their analysis and details on the ongoing AIG payout saga. Here are some of their BlackRock presentation document conclusions on Goldman Sachs:

The Plunder, Pillage and Destruction of the American Tax Base

We don’t pay taxes; only the little people pay taxes. – Leona Helmsley

PREAMBLE:
This brief blog is an attempt at a synthesis of the excellent and exemplary research of superior individuals who have sought out the ways and manner of tax evasion and tax avoidance.

When such avoidance and evasion becomes institutionalized, the impact on any society can be quite severe. Seldom do people understand the connection between massive and institutionalized tax loss and deficit (debt) spending and the existence of debt-financed billionaires (that is, debt-financed wealth).

These activities are extremely antithetical to all forms of progress, as I endeavor to illustrate here.

In the virtual economy, tax shelter design and securitized financial instrument creation rules the day. From the information presented below, one would not be remiss to believe that those with American citizenship who work to evade taxation are truly only citizens of transnationals and multinationals, not citizens of any country.

1913

The sense of responsibility in the financial community for the community is not small. It is nil. – John Kenneth Galbraith, The Great Crash

The year 1913 was fraught with momentous change. That was the year America saw the establishment of the oil depletion allowance, the Federal Reserve System, the federal income tax and the Rockefeller Foundation.

The federal income tax as we know it today was, not unexpectedly, introduced in Congress by a Republican, to be adopted as the Sixteenth Amendment to the Constitution.

As a people we like to mark the anniversaries of important events in our lives. This is true for nations, individuals, corporations, and political groups.
The labor movement has been mostly left out of this tradition. This is my effort to change that. For instance, this Wednesday is the 160th Birthday of Samuel Gompers, founder of the AFL.

For this essay I would like to concentrate of events, such as this Tuesday is the anniversary of the very first worker's compensation agreement.

Insolvency is no longer just for California. The dreaded word "bankruptcy" is now being whispered in Chicago.

While it appears unlikely or even impossible for a state to hide out from creditors in Bankruptcy Court, Illinois appears to meet classic definitions of insolvency: Its liabilities far exceed its assets, and it's not generating enough cash to pay its bills. Private companies in similar circumstances often shut down or file for bankruptcy protection.