US shortchanged -AIG releases list of recipients of bailout money.

[kpete]

Breaking–AIG releases list of recipients of bailout money. US shortchanged.
By: looseheadprop Sunday March 15, 2009 3:28


AIG just relased its listof counter-parties (recipients of bailout money which flowed through AIG) There are 4 nifty charts.

Here's the take away:

Chart A:$6.2 billion out of $22.4 billion goes to US Financial concerns (that we know of. $41 billion is unaccounted for)
Cart B: $10 billion out of $29.6billion goes to US concerns
Chart C: $7 billion out of $12.1 billion (with $ 5.1 billion unaccounted for) goes to US concerns
Chart D: $14.7 billion out of $43.7 billion goes to US concerns

By "US concerns" I mean US banks and financial institutions,like Citbank or Goldman Sachs, or to States and municipalities in the US. The rest go to foreign banks, primarily in Europe.

So, out of $107.8 billion of US taxpayer money only $37.9 is specifically identified as going to US concerns.

We only got 35% of our own money!

more:
http://disturbingthecomfortable.blogspot.com/2009/03/money-comes-money-goes-where.html
http://www.aig.com/aigweb/internet/en/files/CounterpartyAttachments031509_tcm385-153015.pdf

[leftstreet]

1. GLOBAL FREE (credit default swaps) TRADE!

n/t

[indepat]

2. Kicking this expose to the greatest page

[lostnotforgotten]

3. Grab The Pitchforks And Sharpen The Guillotine - We Got Some Justice To Administer

eom

[Idealism]

4. I warned about this awhile back, its called "counterparty credit risk"

and AIG is right in the middle of the shitpile.

[BlueJac]

5. Get a rope!

[Mike 03]

6. I hope this will help people understand why it was life-or-death necessary that we

save AIG, as despicable as they are.

And this is still only half the story.

[Mike 03]

7. Wait a second, don't you understand why that overseas money IS our concern?

Please. That is financing our debt.

It could be financing your 401K or your pension plan.

That is why they call this a global problem.

We are spending beyond our means thanks to our overseas neighbors, and that is why we can't just kick them in the balls when the bill comes due.

Edit:

Kick and rec, to see more thoughtful discussion on this matter.

[Marie26]

8. You mean,

if Dubai & China can't collect on their CDS', they'll stop buying our Treasury bonds? I wonder if the Obama Ad. even got a threat to that effect?

[girl gone mad]

11. No, this is not "financing our debt".

This is paying off the gambling debts of hedge funds when both sides of the private, for-profit transactions were well aware of the risk involved.

[HamdenRice]

12. Don't you get it? Stiffing the Chinese on debt products would be a really good thing right now!

Fuck the Chinese! Let's stiff them on our debt to them. Who cares about tomorrow!

:sarcasm:

Thanks for trying to get people to stop and THINK for a moment, but I don't think it will do any good.

[femrap]

9. I think we need a Class Action Lawsuit

against AIG. Why not?

[Doremus]

10. Foreign banks bought more of AIG's products.

The Ponzi scheme involved buying the worthless derivatives and then insuring them via AIG. More foreign banks did it this way than domestic.