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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (190815)	3/15/2009 5:55:57 PM
From: geode00	Respond to of 306849

European banks among biggest beneficiaries of AIG bailout Reuters Sunday, March 15, 2009 NEW YORK: AIG disclosed on Sunday that European banks including Deutsche Bank and France's Societe Generale were among the biggest beneficiaries of the taxpayer bailout of the insurer. Sunday's disclosure that more than $90 billion (65 billion pounds) has been paid to various banks -- including Goldman Sachs , Merrill Lynch and Bank of America -- since AIG nearly went bankrupt last September could stoke further public outrage about a bailout which already has many politicians up in arms. European banks that received funds from AIG since its bailout include Royal Bank of Scotland , UBS , Societe Generale , BNP Paribas , Banco Santander , Danske , Rabobank , and Calyon, part of Credit Agricole . The U.S. government, which is spending up to $180 billion on the AIG rescue, extended aid to the insurer after large losses from a financial product unit's bets on toxic mortgage assets that triggered rating cuts and collateral demands that AIG could not meet. ------------ So we are borrowing money from China in order to pay off European bankers? What? This is ridiculous. We couldn't get a windfall profits tax on energy companies and the idea of a commodities bubble doesn't even get an audience. The system is out of control: boom, bust, bailout, repeat.