AIG discloses counterparties

[texrex2002]

ok, Maiden Lane III seems to be a Federal reserve entity buying CDO's and CDS's. Maybe someone can find out more.

If they're posting collateral cash on open positions, I am cool with it. If they are buying back derivatives (from "financially sophisticated counterparties") at a massive loss at my (tax) expense, I am seriously pissed.

 

[WaveStrider]

Paulson's inside-joke of calling it TARP gets clearer every day. Good one Hank!

 

[[Proximo]]

Most of it went to GS.

What a suprise !

 

[Martinghoul]

Yes, "Maiden Lane"'s are the Fed mini-super-SIVs to house the AIG stuff...

 

[texrex2002]

here's another decent article narrating the attachment above:

http://www.earthtimes.org/articles/...-securities-lending-transactions,749585.shtml

 

[nkhoi]

American International Group Inc. (AIG) said it had paid over $100 billion of its bailout funds to international banks and U.S. states. The firm said Goldman Sachs (GS) was the biggest recipient, receiving $12.9 billion. Bank of America (BAC) and Merrill Lynch combined received $12 billion and Deutsche Bank (DB) got $11.8 billion. The announcement came after AIG became embroiled in a row over bonus payments to employees at the unit that was largely responsible for its near collapse.

 

[texrex2002]

Quote from Martinghoul:

Yes, "Maiden Lane"'s are the Fed min-super-SIVs to house the AIG stuff...

SIV = special investment vehicle, I am guessing

min-super-SIV = ???

 

[[Proximo]]

How the fuck can they give these people bonuses.

Someone should be ripping their balls off and feeding it to them not giving them bonuses.

 

[Martinghoul]

Quote from texrex2002:

SIV = special investment vehicle, I am guessing

min-super-SIV = ???

Sorry, meant 'mini'. This sorta goes back to the M-LEC super-SIV idea that was floated briefly at some point to rescue the banks.