Below is a listing of prepared by AIG for the Department of the Treasury prior to its recent request for additional sums in order to cover 2008 fourth quarter losses.
These financial institutions were apparently heavily invested in AIG and were recipients of some of the over 100 billion that thus far has been thrown to AIG at the American taxpayer’s expense, although all told hardly come close to the sums which have been advanced thus far:
Goldman Sachs ($6bn) (Owner of Fed)
Deutsche Bank ($6bn to a German bank)
Merrill Lynch (bought Bank of America)
Societe Generale (Global Financial Services)
Calyon (a French bank)
Barclays (a British bank)
Rabobank (a Dutch bank)
Danske (a Danish bank)
HSBC (a Scottish bank)
Royal Bank of Scotland
Banco Santander (a Spanish bank)
Bank of America
Lloyds Banking Group (British)
BNP Paribas a French Bank)
Credit Logement (a French bank which guarantees home loans)
The World Bank, and the International Finance Corporation, and the International Bank for Reconstruction and Development
European Investment Bank
Interesting to note, Goldman Sachs actually is one of the owners of the Federal Reserve, who was the entity which actually extended the monies under the terms of the bailout billed to the American people.
The additional recipients, as you can see, are mostly foreign banks and financial institutions. Interesting also that Bank of America was also given sums, although they were also recipients of separate provisions under the bailout for their supposed mortgage losses – thus double dipping, apparently.
In other words, Bank of American not only made bad business decision on behalf of its mortgage portfolios, but also in its own corporate investments of the profits from those mortgages.
Oh, the webs we weave….
LISTING AS REPORTED IN THE WALL STREET JOURNAL: