3.16.2009

AIG Reveals over $100B of payments to banks, states

LONDON (Dow Jones) -- American International Group said over the weekend it had paid over $100 billion of its bailout funds to U.S. states and international banks including Goldman Sachs, Deutsche Bank and Societe Generale.

The cash was used to cover collateral payments, cancel derivative contracts and meet obligations at its securities lending business after the firm had to be bailed out last year.

Most of the major U.S. and European banks were represented on the list, but AIG (AIG) revealed that Goldman Sachs was the biggest single beneficiary from the payments, receiving $12.9 billion.

Read more @ CNN Money

1 comment:

Sis said...

I'm trying to remember who the Chief executive officer of Goldman Sacks was. Hmmmm.....come on, Sis, think, think, think.

Oh, yeh! It was Hank Paulson. Now I remember. Of course, that was before he became US Treasury Secretary and directed this slush fund to AIG.

Thank goodness for transparency, so we can be sure there was no Hanky-panky going on.