Below is a listing of prepared by AIG for the Department of the Treasury prior to it’s 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 170 billion that thus far has been thrown to AIG at the American taxpayer’s expense:
Goldman Sachs ($6bn)
Deutsche Bank ($6bn a German bank)
Calyon (a French bank)
Barclays (a British bank with a strong US presence)
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
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 America not only made bad business decision on behalf of it’s mortgage portfolios, but also in it’s own corporate investments of the profits from those mortgages. And since Merrill Lynch subsequently bought them out, actually is double dipping on the bank bailouts through repayment from AIG and also sums it independently received under the bailout prior to its merger with Merrill Lynch. And these banks were bankrupt? Hardly.
This still leaves over 110 billion unaccounted for. Want to bet some of that also went into some "global" foreign aid since AIG, after all, is a global corporation and not U.S. domiciled at all.
Oh, the webs we weave….
LISTING AS REPORTED IN THE WALL STREET JOURNAL: