Banks bailed out by AIG, used AIG to avoid paying taxes

[chill_wind]

Tuesday, March 24, 2009
Banks bailed out by AIG, used AIG to avoid paying taxes
Talk about having it both ways!

Some of the same banks that got government-funded payouts to settle contracts with American International Group Inc. also turned to the insurer for help cutting their income taxes in the U.S. and Europe, according to court records and people familiar with the business.

The Internal Revenue Service is challenging some of the tax deals structured by AIG Financial Products Corp., the same unit of the New York company that has caused political ire over $165 million in employee bonuses

http://online.wsj.com/article/SB123785925883921027.html#mod=testMod

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http://aaronandmoses.blogspot.com/2009/03/banks-bailed-out-by-aig-used-aig-to.html

[w4rma]

1. This is how they "afford" to give away so much money in bonuses. They are rip off artists. (nt)

[chill_wind]

2. $220 million in unpaid taxes owed by 13 of them. This is insane!

Last week, House Ways and Means subcommittee reported that 13 of the top 23 bailout recipients owed more than $220 million in unpaid taxes.

http://www.mcclatchydc.com/politics/story/64504.html

[peacetalksforall]

3. When will it stop. AIG calls is smart business?

[chill_wind]

4. .