AIG Bailout: How American Taxpayers Saved European Banks

While the AIG (AIG) controversy rages and the enquiry into the bailout gathers momentum, Professor Linus Wilson of the University of Louisiana (via Clusterstock) has put together a helpful chart showing exactly how the bailout was constructed and indicating which banks got how much.

Two things stand out: The Treasury’s overpayment for preferred stock was a crucial part of the bailout, and though Goldman Sachs (GS) is usually held up as the bad guy here, SocGen (SCGLY.PK) received $2.5 billion more,

Fascinating stuff, especially with American taxpayers coming to the rescue of the European banks!

In 2009, AIG spent over $2.2 Million in Federal “lobbying”.

AIG lobbying.

Lloyd Blankfein, CEO Goldman Sachs, made $42.9 million in compensation in 2008, soon after Goldman Sachs, received $10 Billion in Tarp funds. Goldman Sachs has also spent over $31,437,825 in political lobbying.

While we were still innocent, didn’t we all wonder why Obama would insist on placing Geithner, who was tarnished for not paying taxes, as the Head of the US Treasury?

http://www.thenewamerican.com/usnews/election/697

Turns out Geithner is not so innocent. As a matter of fact his associations are a complete conflict of interest as Treasury Secretary. He is exactly what the Fat Cats would want, and got.

http://news.muckety.com/2008/06/01/ny-feds-timothy-geithner-has-high-powered-group-of-mentors/3112/

The media is focused on the bailout and bonuses of a failed company with over $160 Billion of US tax dollars. The real problems is that our tax dollars are being funneled into Swiss banks and politicians pockets.

http://www.economicpopulist.org/files/AIGCounterparties150309.pdf

For example, AIG funneled over $62 Billion of that Tarp money, to foreign companies which were not eligible. Such as the tax cheat and money laundering UBS, managed by Soros pal, Robert Wolf (from the 2007 Soros luncheon).

http://www.cubanet.org/CNews/y05/oct05/10e13.htm

In 2009, these Swiss Banks who received the Tarp money intended for AIG, were fined for funneling money, with falsified documentation, from sponsors of terrorism such as Libya, Iran, and Cuba.

http://www.nytimes.com/2009/12/16/business/16bank.html

“Investigators found that Credit Suisse’s employees violated both state and federal laws by falsifying outgoing dollar payment messages that involved Iran. The bank’s employees removed reference to Iran or its banks, a practice called stripping.”

Also to benefit was French bank Societe Generale, which was implicated with Soros in 2002, when Soros was convicted of insider trading. The payments are in dispute, along with the cover up.

http://washingtonindependent.com/73860/fed-asked-tarp-inspectors-to-withhold-aig-documents-from-congress

http://www.dailyfinance.com/story/investing/federal-reserve-trying-to-preserve-its-bailout-secrets/19311582

There is still little mention of Tarp funds that are being recycled back into politicians coffers, which is another little problem.

http://www.newsweek.com/id/190363

The media silence regarding our new Cleptocracy, is ominous.

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