AIG Used Bailout Funds To Pay Other Banks

[falcon]

Yep, this deal that Bush and Obamamade with AIG isstinking to high heaven. Ths US government now owns 80 percent of AIG. That means that we own 80 percent of those credit default swaps-tens of trillions of dollars worth.

http://news.yahoo.com/s/ap/20090316/ap_on_re_us/aig_bailout

NEW YORK "“ American International Group Inc. used more than $90 billion in federalaid to pay out foreign and domestic banks, some of whom had received their own multibillion-dollar U.S. government bailouts.

The embattled insurer's disclosure on Sunday came amid outrage on Capitol Hill over its payment of tens of millions in executive bonuses, and followed demands from lawmakers that the names of trading partners who indirectly benefited from federal aid to AIG be made public.

The company, now about 80 percent owned by U.S. taxpayers, has received roughly $170 billion from the government, which feared that its collapse could cause widespread damage to banks and consumers around the globe

[Fieldmouse]

Yep, but Mr "I'm getting my PHD" in this stuff should know why money is going into other banks. You should also know what the alternative of not doing it would have been. Perhaps one day you might enlighten us with your wisdom, instead of name calling and cut and paste jobs.

[falcon]

Yep, but Mr "I'm getting my PHD" in this stuff should know why money is going into other banks.

Eat poop and get sick.

[kaibab_hunter74]

ORIGINAL: Fieldmouse

Yep, but Mr "I'm getting my PHD" in this stuff should know why money is going into other banks. You should also know what the alternative of not doing it would have been. Perhaps one day you might enlighten us with your wisdom, instead of name calling and cut and paste jobs.

What a Hypocrite!!!!...... you copy and paste too you idiot. So don't act like as if it's a bad thing.

[Fieldmouse]

ORIGINAL: falcon

Eat poop and get sick.

Lossing it real badly here lately falcon. Have you checked to see if your meds haven't expired?

You can do better than that falcon. I know it. You of all people should be able to explain why the money went to these banks and what the alterntive was.

[falcon]

Have you checked to see if your meds haven't expired?

It is you who got the medical discharge from the military.

[Fieldmouse]

You right falcon. So what? What does that have to do with this post?

What I'm asking is more insight from you. Your have piped up several times in the past having made the claim your writing your theisis for your PHD on the mortgage crisis or things relating to that. I know AIG is a central figure in all of this andbad mortgage notesare why this money is flowing where it is flowing to. You certainly have more to add then just a cut and paste job. Perhaps I give you too much credit then,my bad.