AIG clients got $50 bn in bail-out cash: Report
March 8th, 2009 - 12:10 am ICT by IANSNew York, March 7 (DPA) Business partners of the insurance giant AIG have received some $50 billion in payments, since the firm was bailed out by the US government in September 2008, the Wall Street Journal reported Saturday.
Beneficiaries of bail-out funds from the firm number some two dozen, including the Goldman Sachs group and Germany’s Deutsche Bank AG, the paper said.
Goldman Sachs and Deutsche Bank each received some $6 billion in payments between September and December 2008, to cover exposures they had at the failing insurer.
The names of all AIG’s derivative counterparties and the amount of taxpayer money they have received is still not known, but political pressure is mounting for disclosure.
Other firms that have received funds through the bail-out include Morgan Stanley, Royal Bank of Scotland, and HSBC.
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