It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(visit the link for the full news article)
Update | 6:23 p.m. The American International Group on Sunday released the names of financial institutions that benefited last fall when the Federal Reserve saved it from collapse with an $85 billion rescue loan and then 3 subsequent bailouts.
As the mortgages underlying the credit default swap agreements decayed, A.I.G. was required to post collateral to its counterparties. By September, the firm warned that it would run out of money, prompting the government to swoop in with its initial $85 billion loan. That money was used to post collateral to counterparties, including France’s Société Générale, Germany’s Deutsche Bank and Goldman Sachs.
All told, the posting of collateral for the swap agreements cost $22.4 billion, A.I.G. said. The money was paid to the counterparties between Sept. 16 and Dec. 31.
Originally posted by Terapin
Bailout: We give the Banks our money (401k) to invest. They screw up and loose it all , but still collect their bonuses. We bail them out with more of our money (taxes) so they can loan our money back to us, with interest, and make more profit and bonuses. What's wring with that?
Bail out GM and they send Billions to Brazil for their Auto plant there. Why give the money to american plants that support American worker Taxpayers?
I just cant wait till the Peso has more value than the dollar. I like Mexican food.