This chart shows the how Your AIG Bailout money went down (the drain)…
Now, don’t be alarmed about the big money that left your pocket because, Tim Geithner, Henry Paulson and Ben Bernanke have taken care of everything…
You see, these guys made sure that all the big banks got paid 100 cents on the dollar for toxic assets, even Societe Generale for $16.9bn and Deutsche Bank for $8.5bn – both offshore banks!
So, how can we show our gratitude to these “men” and properly thank them for their ad hoc Monetary Policy?…
Here’s the chart:
CHART OF THE DAY: How The AIG Bailout REALLY Worked
Two things stand out: The Treasury’s overpayment for preferred stock was a crucial part of the bailout, and though Goldman Sachs is usually held up as the bad guy here, SocGen received $2.5 billion more.
Hope the Europeans appreciate your (the taxpayer) ponying up.
Related posts:
AIG bailout – Google News
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