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Author Topic: AIG - Bailed out who with taxpayers money?  (Read 1472 times)
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WhiskeyGirl
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« on: March 08, 2009, 06:01:11 PM »

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LONDON (Reuters) - European banks declined to discuss a report that they were beneficiaries of the $173 billion bail-out of insurer AIG that has sparked political furor in the United States.

Goldman Sachs, Morgan Stanley and a host of other U.S. and European banks had been paid roughly $50 billion since the Federal Reserve first extended aid to AIG, the Wall Street Journal reported on Friday.

French banks Societe Generale and Calyon on Sunday declined to comment on the story, as did Deutsche Bank, Britain's Barclays and unlisted Dutch group Rabobank.

Other banks mentioned in the Journal's article include HSBC , Wachovia, Merrill Lynch, Banco Santander and Royal Bank of Scotland.

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Senators are outraged by the lack of details about where the bailout money has gone, likening AIG's underwriting of credit default swaps as gambling with somebody else's money.

Wow.  Any of this bailout money saving or creating jobs for Americans?  Or did Obama not intend for Americans to be included in his ever changing jobs predictions?

http://www.reuters.com/article/topNews/idUSTRE5270YD20090308
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WhiskeyGirl
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« Reply #1 on: March 08, 2009, 06:05:08 PM »

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The Wall Street Journal, citing a confidential document and people familiar with the matter, reported that Goldman Sachs and Deutsche Bank each got about $6 billion in payments between the middle of September and December last year.


Quote
It's like taking insurance on your neighbor's house and even maybe contributing to blowing it up," he said at a panel sponsored by New York University's Stern School of Business.

http://ca.reuters.com/article/businessNews/idCATRE52624P20090307

I wonder who in the Treasury, Federal Reserve, and the Bush/Obama economic advisory teams have interests in any of the these banks bailed out by taxpayers?
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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